Hotter than expected inflation data couldn't cool off the market on Thursday. Stocks soared and sent the Nasdaq to a new record high. February 29, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Hereâs what moved the market today. Markets ð The Nasdaq set a new record high on Thursday, despite a stronger-than-expected inflation read on Januaryâs PCE report. - DJIA [+0.1%] - S&P 500 [+0.5%] - Nasdaq [+0.9%] - Russell 2K [+0.7%] [It's Like You're Trading 24 Hours A Day...]( Hi there, it's Tom Busby, founder of the Diversified Trading Institute. Unfortunately, it's not possible to trade 24 hours a day, but you can learn how to profit like you do! With my new guide, the "Little Black Book", you can discover how to earn a little more everyday, even when the trading day is over! [Get your free copy on the NEXT PAGE »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News ð ð Fed's Inflation Meter Spikes in January Who said January had to be cold? Inflation certainly didn't get the memo, heating up more than the Federal Reserve's comfort zone prefers. The personal consumption expenditures (PCE) price index, the Fed's favorite economic thermometer, rose a toasty 0.3% from December. It's like the economic forecasts predicted it, but that doesn't make the reality any less spicy. ð Surprise TwistÂ
Zooming out to the year-long view, the overall PCE index climbed 2.4%, with core prices taking a higher leap to 2.8%. Here's the kicker: both numbers were actually lower than the brainiacs expected, thanks to the Commerce Department playing the revision game with December's figures. It's like finding out the movie's ending isn't what the trailer promised, offering a mixed bag of relief and recalibration for the Fed's next moves. ð¢ Fed's Balancing Act
Aiming for that sweet spot of 2% annual inflation, the Fed's got its eyes glued to these monthly shifts. Remember the heady days of 2022 when inflation rates were more roller coaster than gentle carousel, peaking over 7%? Well, the current vibe suggests cautious optimism. The Fed's message is clear: "Show us more progress, and we'll talk rates." It's a delicate dance of data and decision-making, with every new number adding a step to the routine. Top Winners and Losers ð¥ Societal CDMO [SCTL] $1.07 (132.6%)
agreed to be acquired by CoreRX via a cash tender offer that pays $1.10 per share. Enveric Bio [ENVB] $1.45 (+74.4%)
signed three non-binding term sheets with an undisclosed biotech company to pursue out-licensing compounds. SidUS Space [SIDU] $8.98 (+61.2%)
was granted a U.S. patent titled âThree Dimensional Print Head Apparatus.â J-Long Group [JL] $2.00 (84.3%)
announced a $6 million special dividend and saw an early rally collapse into huge losses before the session closed. Liveperson [LPSN] $1.27 (47.0%)
published disappointing Q4 2023 earnings results in Wednesdayâs aftermarket. Endava [DAVA] $37.17 (41.7%)
posted lower earnings and revenues, slashed its 2024 guidance, and announced plans to acquire Galaxy in its fiscal Q2 report this morning. 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,
â Adam G.
Elite Trade Club Text ELITESTOCKS to 47121 or [click here](Â 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