Stocks Extend Their 2024 Slump 📉

U.S. benchmarks slid to fractional losses for the second day in a row, led by another sell off in the Nasdaq...                                                                                                                                                                                                                                                                                                                                                                                                                 January 03, 2024 | [Read Online]( Adam Garcia January 03, 2024 Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 U.S. stocks continued their recent slide on Wednesday, after another sell off in the tech sector dragged down the S&P 500 and Nasdaq. Even yesterday’s lone gainer, the Dow, wasn’t spared from today’s rout, and the small-cap Russell 2K took a punished 2.6% loss. - S&P 500 [-0.8%] - Dow [-0.7%] - Nasdaq [-1.1%] - Russell 2K [-2.6%] Sponsored Join now for instant access to this and many more in-depth research reports. [Get Onboard for Our Next Stock Pick]( Start your New Year off right by joining Elite Growth Stocks. This premium service delivers growth stocks with 10X potential every month, plus premium market insights, and much more. With rate cuts potentially on the horizon, now could be an excellent time to snatch up high quality growth stocks at bargain prices. Get instant access to all of our stock picks, including our most recent winner, when you get started now. [Upgrade to Elite Growth Stocks NOW »]( Market-Moving News 🔎 📊 Fed Foresees Potential Rate Cuts in 2024 The Federal Reserve officials, in their December meeting, hinted at the likelihood of interest rate cuts in 2024. However, the details released in the Wednesday minutes reveal a considerable degree of uncertainty about the timing and conditions of these cuts. During the meeting, the Federal Open Market Committee maintained the benchmark rate between 5.25% and 5.5%, with projections of three quarter-percentage point cuts by the end of 2024. 📈 Economic Factors Influencing Rate Decisions - Inflation Progress: The Fed acknowledged strides made in controlling inflation, noting that supply chain issues that significantly fueled the mid-2022 peak have eased. - Labor Market Balancing: There has also been progress in aligning the labor market, though it remains a continuing effort. 📉 Long-Term Rate Projections The "dot plot," which reflects individual members' expectations, indicates an anticipation of rate reductions over the next three years. These adjustments aim to bring the overnight borrowing rate closer to the long-run target near 2%. Most participants, considering the improved inflation outlook, foresee a lower federal funds rate target range by the end of 2024. 📝 Minutes Highlighting Uncertainty Despite these projections, the minutes emphasize an "unusually elevated degree of uncertainty" in the policy path. Some members suggested the need to maintain higher rates if inflation persists, while others didn't rule out the possibility of additional hikes, depending on economic developments. The Federal Reserve's minutes from December paint a picture of cautious optimism tempered by the reality of economic unpredictability, indicating a nuanced approach to future monetary policy adjustments. Top Winners and Losers 🔥 NextImmune [NEXI] $6.20 (+161.0%) rocketing higher after being targeted by day traders on social media got its low float. Sidus Space [SIDU] $11.64 (+67.0%) received NOAA approval to begin providing satellite imagery for commercial and government customers. VolitionRX [VNRX] $1.05 (+46.4%) received 46 million shares of privately-held AiBtl BioPharma after triggering the first milestone payment of a global licensing deal. TC BioPharm [TCBP] $2.31 (26.2%) announced additional plans to cut costs and streamline efficiencies. Pinstripe Holdings [PNST] $8.20 (38.3%) fell after a pair of Form 4 filings revealed two key insiders dumped millions of shares. Tenax Therapeutics [TENX] $16.00 (23.0%) continued to slide after implementing a 1-for-80 reverse stock split. 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!]( [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