Stocks snap back after Wednesday wobble 🚀

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

Stocks rebounded from Wednesday’s sell-off in dramatic fashion on Thursday. Most indexes gained upwards of a full point.

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Market-Moving News 🔎 

📉 Layoffs Spike, Yields Take a Dip 

Last week saw jobless claims hitting their peak since mid-November, as reported by the Labor Department on Thursday. This uptick could signal a shift in the labor market's strength, stirring speculations about its future trajectory.

🏦 Fed's Focus: 
Although unemployment claims are still considered to be in a healthy range, this recent increase could potentially open the door for the Federal Reserve to adjust its policy stance.

With the labor market showing signs of cooling, there might be a path cleared for easing policies a bit earlier than anticipated.

📊 Yield Dynamics: 
In response to the labor market news, the 10-year U.S. Treasury yield dipped below the 3.9% mark, a level it hasn’t closed below this year.

This movement in yields reflects investors' recalibrating expectations in light of the latest job market data.

NeuroBo [NRBO] $5.47 (+67.2%)
received FDA clearance to begin Phase 1 trials for its obesity drug candidate DA-1726.

Akson Health [AHG] $2.23 (+35.6%)
announced plans to acquire an online clinic after Wednesday’s close.

BioRestorative [BRTX] $2.16 (+32.5%)
said it will present preliminary data from BRTX-100 Phase 2 trials at the Orthopaedic Research Society 2024 Annual Meeting, which runs from Feb. 2nd to Feb. 6th in Long Beach, CA.

CCSC Tech Intl. [CCTG] $3.90 (81.6%)
suddenly pulled back after trending higher for the past two weeks. The stock has only been trading on U.S. markets since Jan. 18th.

Revelation Bio [REVB] $3.18 (63.8%)
announced the pricing of a $6.2 million public offering.

Trugolf [TRUG] $1.33 (55.0%)
plummeted in its first day of trading since completing its reverse merger with Deep Medicine SPAC earlier this week.

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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