Hot jobs report rallies stocks 🔥

Good Afternoon! 

Hey, everyone. It's Adam from Elite Trade Club. 

Here’s what moved the market today.

Markets 📈

Stocks rallied on Friday in response to stronger-than-expected March jobs data, despite concerns that a hot hiring market could dissuade the Fed from cutting rates in the imminent future.

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Market-Moving News 🔎 

🧳 March Jobs Report & Its Implications for Rate Cuts

March witnessed a robust addition of 303,000 jobs, significantly exceeding the anticipated 200,000, marking a continuation of the economy's strong labor performance. This growth spans across sectors from healthcare and government to the more variable fields of construction, retail, and hospitality.

Earnings Growth Slows 👷‍♂️
Despite the employment boom, the increase in average hourly earnings decelerated to 4.1% year-over-year in March, the slowest pace since mid-2021.

Workforce Expansion 🧐
Two main theories emerge to explain the labor market's ability to grow without spurring wage inflation: increased immigration enhancing worker supply and greater labor market participation, possibly driven by more adaptable work environments. Supporting the latter, the workforce participation rate climbed to 62.7%, reaching its highest since November.

Fed's Balancing Act ⚖️
While the strong job growth challenges the immediate need for interest rate reductions by the Federal Reserve, the slowdown in wage increases and higher labor participation provide a nuanced view. These factors combined suggest that inflation risks may not intensify, leaving some room, albeit limit

Mediaco [MDIA] $3.88 (+177.1%)
rallied after General L.P. disclosed a 95.2% stake in radio station operator in a late-Thursday Schedule 13D/A filing.

22nd Century Grp [XXII] $3.56 (+140.5%)
signed a “large new CMO customer” to a contract that will boost its CMO unit’s sales volume by upwards of 20%.

Better Choice [BTTR] $7.74 (+81.0%)
appointed a new board chairman and appointed CEO Kent Cunningham as a company director.

XTI Aerospace [XTI] $2.78 (26.8%)
continued to slide after the company delayed its annual report submission on Wednesday.

HWH Intl. [HWH] $1.59 (30.8%)
suffered steep losses after an unexplained rally on Thursday. 

NewGenIVF [FAAS] $1.00 (33.3%)
fell for the second day in a row after closing on its merger with A SPAC I on Wednesday.

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

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