Stocks Pause on Inflation Uptick 📉

Good Afternoon! 

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

We had a technical glitch on yesterday’s report that caused the entire winners section to be erased right before the email went out. I apologize for any inconvenience.

Here’s what moved the market today.

Markets 📈

Stocks turned in a mixed performance on Thursday, after December CPI data showed there was an unexpected uptick in inflation compared to November.

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Market-Moving News 🔎 

📊 December CPI Shows Inflation Still a Concern

Despite inflation cooling significantly over the past year, the consumer-price index (CPI) in December revealed a persistent challenge for consumers.

According to the Labor Department, the CPI rose 3.4% year-over-year in December, a slight increase from November's 3.1% climb. This uptick serves as a reminder that inflationary pressures haven't been completely subdued.

🏦 Federal Reserve's Monetary Policy 
The recent cooling from the historical highs keeps the Federal Reserve on a path to maintain steady interest rates in the near term, with potential rate cuts under consideration later in the year.

However, the latest CPI figures suggest that the battle against inflation is ongoing.

🔍 Economic Indicators: A Mixed Bag
The December CPI marks a significant drop from the 6.5% increase at the end of 2022.

Adjusted for inflation, wages grew by 0.8% in 2023. This positive turnaround comes after two years of declines, offering a silver lining with wages outpacing inflation for the first time in three years. This growth surpasses the pre-pandemic year's figures.

👀 Looking Ahead
While the latest CPI data indicates a noteworthy reduction in inflation from the previous year's highs, the December increase shows that the journey to stable prices is still in progress.

The Federal Reserve and consumers alike will continue to navigate these economic fluctuations as 2024 unfolds.

SEALSQ [LAES] $3.17 (+62.5%)
announced the successful closing of a $10 million private placement of convertible notes and warrants.

Nubia Brand Intl. [NUBI] $7.21 (+48.6%) said it wont accept redemption requests in connection with its business combination with Honeywell Battery.

First Financial NW [FFNW] $20.25 (+48.0%)
agreed to a $231.2 million all-cash buyout deal with Global Federal Credit Union that could pay as much $23.75 per share of FFNW.

Clearmind Medicine [CMND] $1.67 (43.0%)
priced a $2.4 million registered direct and private placement of its shares.

Sidus Space [SIDU] $5.45 (30.3%)
registered for an $2 million offering of up to 513K of its shares from certain selling shareholders.

Richardson Electronics [RELL]
$10.12 (19.0%)
posted a fiscal Q2 loss and a steep sales decline in its premarket earnings release.

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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