This Biotech Is up 271% Today

July 09, 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 march higher on Tuesday with record closes again for the S&P and NASDAQ. Jerome Powell also made some interesting comments that we will jump into a little later. - DJIA [-0.1%] - S&P 500 [+0.1%] - Nasdaq [+0.1%] - Russell 2K [-0.4%] [A Tiny Stock with Massive Potential](🚀 A recent government grant has put this under-the-radar stock on the map. It has the potential to become a key player in one of North America's most crucial supply chains. And it's currently sitting on an impressive portfolio of assets, plus claims that could deliver huge opportunities down the road. It has the potential to be an excellent swing trade candidate, and now could be a great time to make a move. [Get a Full Briefing on this Promising Stock HERE]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 📈 Fed Chair Powell Cautions on Prolonged High Interest Rates Impact on Economic Growth 📈 Economic Concerns Federal Reserve Chair Jerome Powell expressed concern on Tuesday about the potential negative impact of maintaining high interest rates for an extended period on economic growth. Preparing for his two-day Capitol Hill appearance, Powell noted that the economy and labor market remain strong despite some recent cooling. He highlighted some progress in reducing inflation, emphasizing the Fed's commitment to achieving a 2% inflation target. "At the same time, in light of the progress made both in lowering inflation and in cooling the labor market over the past two years, elevated inflation is not the only risk we face," Powell said. "Reducing policy restraint too late or too little could unduly weaken economic activity and employment." 📉 Interest Rates and Market Expectations This statement comes near the one-year mark since the Federal Open Market Committee last increased benchmark interest rates. Currently, the Fed’s overnight borrowing rate is between 5.25%-5.50%, the highest in 23 years, following 11 consecutive hikes to combat inflation, which reached its highest levels since the early 1980s. Markets anticipate the Fed will begin reducing rates in September, with a potential additional quarter percentage point cut by year-end. However, FOMC members indicated only one cut in their June meeting. 💹 Inflation Data and Economic Outlook Powell and his colleagues recently noted some encouraging inflation data after a surprising increase earlier in the year. The Fed’s preferred inflation measure, the personal consumption expenditures price index, was at 2.6% in May, down from over 7% in June 2022. Powell emphasized the Fed's apolitical stance and the importance of its "operational independence" to fulfill its mandate. His remarks also addressed the broader economic outlook, noting that “the U.S. economy continues to expand at a solid pace” despite the deceleration in GDP. Top Winners and Losers 🔥 Zapp EV [ZAPP] $17.95 (+94%) Zapp continued to soar in what appears to be a short squeeze rally that began late last week. Soligenix Inc [SNGX] $7.42 (+271%) SGNX was the biggest gainer in the entire market today after new study data was positive in regard to its cutaneous T-cell lymphoma (CTCL) treatment. NVIDIA Corp [NVDA] $131.38 (+2%) NVIDIA pushed higher thanks in part to a new price target of $180 by key bank analyst John Vinh. Helen of Troy Ltd [HELE] $64.33 (27%) HELE dropped after earnings came in weaker than expected. Indivior Plc [INDV] $10.19 (33%) fell after publishing a business update that revised earnings guidance down. Applied Digital Corporation [APLD] $5.47 (24%) Shares of APLD headed lower today due to what appears to be profit-taking. 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! 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. 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