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Good Afternoon! 

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

Here’s what moved the market today.

New Innovations

Elon’s New Crazy Invention Could Pay You $30k a Year

What Elon Musk is about to do next could be BIGGER than PayPal, Tesla, SpaceX, and Neuralink… COMBINED.

His next big idea could not only unleash $9 trillion in value…

But it could also pay you an extra $30,000 a year in income outside of the markets.

Hard to believe, right?

But click here to watch the live demo, and you’ll see it for yourself.

Markets 📈

The market went into the Christmas holiday on a high note as stocks rose during today’s shortened session. The Nasdaq Composite saw the most fruit, gaining over a percent on the day.

Market-Moving News 📈

Steel

Biden Faces Key Decision on Nippon Steel’s Bid for US Steel

Nippon Steel's proposed $12.3 billion acquisition of US Steel faces significant challenges after a U.S. national security panel failed to reach a consensus on its review, leaving the decision to President Joe Biden. The president, who has expressed concerns about foreign ownership of US Steel, now has 15 days to determine the deal’s fate.

The Committee on Foreign Investment in the United States referred the case to Biden after deadlocking on the review. While the White House has not definitively stated the president’s decision, Biden has previously emphasized the importance of keeping US Steel domestically owned to safeguard national interests. The companies involved have signaled their intent to challenge a potential rejection in court.

Proponents of the acquisition argue that it would enhance competition with China in the global steel market and strengthen the American steel industry. However, opposition from the United Steelworkers union has highlighted concerns over commitments to unionized facilities. Local officials and some lawmakers have expressed support, urging Biden to allow the transaction.

If the deal is blocked, US Steel will face market pressures alone, with recent struggles including lower steel prices and weakened demand in Europe. The company recently lowered its earnings outlook, adding to the uncertainty surrounding its future.

Restaurants

Starbucks Workers Strike Hits Hundreds of Stores During Holiday Rush

Starbucks is facing a widespread strike led by its workers' union, impacting over 300 locations nationwide during the busy holiday season. Thousands of employees across major cities, including Boston, Philadelphia, and others, are participating in the work stoppage. The strikes began on December 20 in select cities and have since escalated, disrupting operations at numerous stores.

The union timed the strikes to coincide with the final days before Christmas, a critical period for the company when customers frequently purchase seasonal drinks and gift cards. While the majority of Starbucks’ U.S. stores remain operational, the closures have drawn attention to the ongoing tensions between the union and company management.

The strikes stem from stalled negotiations over pay and working conditions. Union representatives claim the company’s proposed terms fell short of their expectations, prompting the walkouts. Starbucks, in response, has emphasized its efforts to enhance employee experiences and urged continued discussions to resolve the disputes.

This labor action follows nearly two years of efforts by Starbucks Workers United to secure better wages and scheduling flexibility for employees. As both sides remain at odds, the strikes highlight ongoing challenges in balancing corporate interests with the demands of an increasingly organized workforce.

Banking

Bank of America Ordered to Address Compliance Deficiencies by Regulators

Bank of America has been ordered by the Office of the Comptroller of the Currency (OCC) to address deficiencies in its compliance programs related to the Bank Secrecy Act (BSA) and sanctions. The order cited issues such as delays in filing suspicious activity reports and unresolved compliance deficiencies. Additional shortcomings were identified in areas like internal controls, governance, independent testing, and training within its BSA program.

To address these issues, the bank is required to engage an independent consultant to review its compliance programs and ensure proper reporting of suspicious activity. This move aims to strengthen the bank’s anti-money laundering and sanctions protocols.

This development follows another challenge for Bank of America, as the Consumer Financial Protection Bureau recently filed a lawsuit against the bank and two other financial institutions. The lawsuit accuses them of enabling fraudulent activities on a peer-to-peer payment platform.

These regulatory actions highlight the increasing scrutiny on financial institutions to maintain robust compliance systems and protect customers from potential risks. Bank of America faces a critical period of remediation to meet regulatory expectations and rebuild trust in its oversight processes.

The Next Big Breakthrough

Elon’s New Tech Could Be Bigger Than Tesla & SpaceX… Combined

Forget rockets or brain implants…

Elon’s new AI product could be his biggest invention yet.

Jeff Brown tried it himself recently and caught his experience on camera.

Click here to see this footage because according to Tesla Magazine, this new product “could well shape the technological and economic future of our society.” 

Multiplan Corp [MPLN] $12.24 (+94.90%)

Multiplan surged following an announcement that the company would undergo a comprehensive refinancing of its capital structure.

Neuehealth Inc [NEUE] $7.54 (+74.94%)

Neuehealth jumped after the company announced that it would be acquired by New Enterprise Associates and taken private.

Ensysce Biosciences Inc [ENSC] $10.15 (+22.88%)

Ensysce saw favorable gains today after regaining full compliance with Nasdaq.

Exicure Inc [XCUR] $17.18 (-12.08%)

Exicure continues to slide after shareholders agreed to $8.7 million in equity financing.

ElectroCore Inc [ECOR] $16.26 (-7.19%)

ElectroCore slid back down to earth days after the company announced plans to acquire healthcare firm NeuroMetrix.

Limoneira Co [LMNR] $24.95 (-6.99%)

Limoneira lost significant ground upon sharing its estimated avocado volumes will be much lower than anticipated.

Big Tech Movers

A Tech That Could Pay You $30K a Year?

Elon Musk already helped revolutionize online payment processing with PayPal…

And disrupted the auto industry with Tesla.

He is revolutionizing space exploration with SpaceX…

And the healthcare industry with Neuralink’s brain implant.

But what he’s about to do next could be BIGGER than all of those things combined!

His next big idea could not only unleash $9 trillion in value…

But it could also pay you an extra $30,000 a year in income outside of the stock market.

Hard to believe, right?

But click here to watch the live demo, and you’ll see it for yourself.

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!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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