Stocks close with mixed results 🎢

The S&P 500 and Dow notched minor gains, while the Russ2K and Nasdaq fell short.                                                                                                                                                                                                                                                                                                                                                                                                                 May 10, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 Stocks closed out the trading week with a mixed performance on Friday. The Dow and S&P 500 managed edged higher, while the Nasdaq and Russ2K fell short. - DJIA [+0.3%] - S&P 500 [+0.1%] - Nasdaq [-0.0%] - Russell 2K [-0.6%] ` [Forget the A.I. Hype: This New Tech Is the Real Deal]( You've probably been drowning in all the A.I. buzz lately. But here's the thing - most of it is just smoke and mirrors. However, a recent A.I. breakthrough is something you absolutely can't afford to ignore. It's going to have a serious, real-world impact on everyday Americans like us. [Click here to cut through the B.S. and get the real scoop on this A.I. bombshell]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 📉 Consumer Sentiment Dips Amid Rising Inflation Concerns The University of Michigan's Survey of Consumers revealed a notable decline in consumer sentiment for May, dropping to an initial reading of 67.4 from April's 77.2. This marked a significant month-on-month decrease of 12.7%, albeit with a year-over-year increase of 14.2%. The decline comes amid heightened inflation expectations, despite overall strength in the economy. Inflation Outlook 🔍 Inflation expectations for both the one-year and five-year horizons witnessed an uptick. The one-year outlook surged to 3.5%, reaching its highest level since November, while the five-year outlook rose to 3.1%, reversing a trend of declining readings seen in recent months. Worries Mount 📉 Consumer concerns extended beyond inflation, encompassing fears about rising unemployment and interest rates in the coming year. The sentiment measure for current conditions dropped to 68.8, while the expectations measure fell to 66.5, indicating significant monthly declines. Economic Tightrope ⚖️ Rising inflation uncertainty could potentially dampen consumer spending in the coming months, posing a dilemma for the Fed in balancing price stability and economic growth. Concerns about stagflation and its impact on markets are also on the rise, alongside considerations surrounding the presidential election. Anticipating Data 📊 Attention now turns to the upcoming release of the Labor Department's consumer price index report for April, expected to provide insights into the trajectory of price pressures. Market observers await this crucial data point following the Michigan survey's indications of heightened inflation concerns. Market Response 📈 Amidst these developments, market dynamics remain fluid, with expectations of Fed action influenced by incoming economic data and policymakers' assessments. Fed Chair Jerome Powell's recent remarks suggest a cautious approach, emphasizing the need for sustained inflation moderation before considering rate adjustments. Top Winners and Losers 🔥 AEye [LIDR] - $2.58 (+115.0%) announcing a partnership with automotive electronics and vision solutions provider, LITEON. Novavax [NVAX] $8.88 (+98.6%) landed a co-exclusive license agreement with Sanofi [SNY +1.2%] for its COVID-19 and flu-COVID-19 combo vaccines. Iteos Therapeutics [ITOS] $17.44 (+43.0%) disclosed a $120 million securities purchase agreement that sold 1.14 million shares at a 44% premium to its closing price on Thursday. MacroGenics [MGNX] $3.31 (77.4%) reported five fatal deaths during and high rates of severe adverse events during Phase 2 trials of a prostate cancer drug. Evolve Technology [EVLV] $2.36 (38.5%) lowered its full-year 2024 revenue guidance and missed the consensus estimates for Q1 earnings and revenues. Xponential Fitness [XPOF] $8.48 (31.4%) suspended its CEO Anthony Geisler amid a federal probe into undisclosed business activities. 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. 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