Stocks are heating up 🔥

The market posted its second rally of the trading week, reversing course after a shutout last week.                                                                                                                                                                                                                                                                                                                                                                                                                 April 23, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 Stocks continued their hot start to the trading week with another set of strong performances on Tuesday. The S&P 500 and Nasdaq rallied for a point plus, while the Dow cruised to a fractional gain. - DJIA [+0.6%] - S&P 500 [+1.2%] - Nasdaq [+1.5%] - Russell 2K [+1.8%] [Get a FREE Stock Analysis: Don't Guess on a Stock’s True Value]( Get a full report that tells you what a stock is really worth, how safe the stock is, and if the timing is right to buy the stock. Plus, it offers a definitive Buy, Sell, Hold recommendation for every ticker. Take it for a test drive now to see how your favorite stock stacks up! [Analyze Any Stock Free »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 🛻 Americans Stick to Gas Guzzlers Like Glue General Motors [GM +4.3%] just delivered a pleasant surprise to Wall Street by beating first-quarter profit forecasts and boosting its 2024 profit outlook. Shares surged over 5% in afternoon trading. Last year, GM prepared for economic turbulence that, fortunately, never materialized. The unexpected smooth sailing led to stellar results, with a quarterly operating profit of $3.9 billion, the best since the third quarter of 2022. Steady Prices 🚗 Despite an increase in vehicle availability, American consumers are still paying premium prices for new cars. On a call with analysts, GM's management noted that while prices are declining, they aren't dropping as quickly as anticipated. This slower-than-expected price reduction prompted an upbeat revision to GM’s financial guidance for the year, with CFO Paul Jacobson suggesting further increases if the trend persists. Retail Sales Outpace Fleet 📊 Consumer demand remains robust, prompting GM to divert more vehicles to the lucrative retail market instead of the fleet sector. This strategic shift led to a 6% increase in retail sales year over year, while fleet sales saw a significant decline of more than 20%. Inventory Buildup 🏭 GM is letting its inventory pile up at U.S. dealerships, with stock levels 30% higher than last year. This is partly in preparation for plant downtime in Indiana needed for equipment upgrades for next-generation pickups. This inventory strategy suggests confidence that the upcoming spring selling season will be strong, despite the potential risks associated with high dealer inventories. Global Challenges 🌐 While GM’s U.S. business is thriving, its international segments, especially in China, face challenges due to a fierce price war. With the international business now representing a small fraction of total operating profit, GM’s focus on the domestic market has shielded it from some global economic fluctuations. Looking Ahead 🚀 With the domestic market showing strong performance, GM appears well-positioned for 2024. The company's focus on meeting robust consumer demand and managing pricing strategies effectively underscores its optimistic outlook for continued growth in the U.S., even as it navigates less predictable international waters. Top Winners and Losers 🔥 NewGenIvf [NIVF] $2.23 (+74.2%) signed a non-binding term sheet for a potential reverse merger with European Wellness Investment. Opportun [OPRT] $3.15 (+40.0%) announced preliminary Q1 financials and increased its board size from nine to ten directors. ABVC Bio [ABVC] $1.35 (+29.8%) was upgraded from “sell” to “hold” by Refinitiv/Verus. Aberona Therapeutics [ABEO] $3.41 (53.6%) said the FDA denied its new drug application for its skin disorder treatment PZ-cel. The company plans to resubmit. Moolec Science [MLEC] $1.73 (29.9%) pulled back after a big rally on Monday, following the USDA’s announcement that its modified soybean wasn’t subject to regulation. Top Wealth Group [TWG] $1.95 (25.0%) retreated for the second day in a row following a big rally on Friday. That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members! Thanks for reading. I'll see you at the next open! Best Regards, — Adam G. Elite Trade Club Text ELITESTOCKS to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign Up for Mobile Alerts Now]( [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America [[beehiiv logo]Powered by beehiiv](