Troubling data triggers broad sell-off 🚩

[Image](www.elitetrade.club) Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Today is Thursday, August 24th. I hope you had a great trading session. Here's what moved the market today: Markets 📈 U.S. benchmarks turned south after a weak read on the U.S. manufacturer sector this morning. It was a clean sweep sell-off, with the S&P 500 [-1.3%], Dow [-1.0%], Nasdaq [-1.8%] and small-cap Russell 2K [-1.2%] all closing with losses exceeding 1.0%. Sponsored [Shocking Loophole with REAL INCOME Potential 💰]( Thanks to a little–known IRS loophole… Regular Americans can collect up to $28,544 in payouts from “Amazon's secret royalty program”… See how to collect the next payout before the strict cutoff deadline. [Start Collecting Royalties Now]( Today's Market-Moving News 🔎 🏡 Mortgage Rates Hit 20-Year Highs The average interest rate on a U.S. 30-year residential mortgage rates hit 7.23% in today's session. It's the highest level we've seen since 2001, and the higher costs are compelling more buyers and sellers to stay out, throwing a damper on the housing market. 📉 U.S. Manufacturing Suffers Worst Contraction Since 2020 America's manufacturing sector has become very anemic as of late. New orders for durable goods fell by 5.2% in July, the largest drop since April 2020, during the early days of the COVID-19 pandemic. Yesterday, a report from S&P Global showed business activity fell to a six-month low in the U.S., thanks in part to an intensifying contraction in the manufacturing sector. Today's Top Winners and Losers 🔥 Better.com [BETR] $1.15 (93.4%) collapsed in its stock market debut, one day after completing its merger with Aurora Acquisition SPAC on Thursday. BTC Digital [METX] $2.42 (28.4%) announced plans for a 1-for-20 reverse stock split on Wednesday. GRI Bio [GRI] $1.48 (25.6%) said it agreed to sell certain assets and IP related to its ADHD treatment, ADAIR, to Aardvark Therapeutics In exchange for a "modest upfront payment" and $80 million in potential milestone payments. Bruush Oral Care [BRSH] $2.70 (+56.7%) rebounded in what appeared to be a short-squeeze rally after plummeting 50.1% on Wednesday. VinFast [VFS] $49.00 (+32.3%) continues to run hot after completing its IPO earlier this month, despite no major news to explain the move. Electriq Power Holdings [ELIQ] $2.99 (+103.4%) rallied after a Wednesday-evening SEC filing revealed Jel Partnership had taken an 8% passive stake in the company. 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 P.S... Text ELITE to 47121 to get our watchlists sent directly to your phone! You can also text CLOSE to 47121 to get the Closing Bell Roundup, too! *Standard message/carrier rates may apply. © Elite Trade Media LLC, 2023. All rights reserved. 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. [Bots click here]( 1969 Alafaya Trail Suite #247 Orlando FL 32828 USA [Unsubscribe]( | [Change Subscriber Options](