Stocks post mixed results on weak earnings 📉

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

U.S. stocks posted mixed results, with small-caps and the Dow underperforming, for the second day in a row on Wednesday.

Sponsored

Blockbuster Acquisition Could Skyrocket this Under-the-Radar Stock

An overlooked company just landed a deal that could catapult it to the forefront of its sector in the coming months.

It operates in a sector that is known to be a favorite of Warren Buffett, and the deal could provide the catalyst it needs to break out.

This could be an excellent swing trade set up, so don’t pass up the opportunity.

Get the Stock’s Ticker Symbol & Full Analysis Here »

Market-Moving News 🔎 

📈 U.S. Business Activity Starts 2024 Strong

Hello, 2024! U.S. business activity is zipping along at its fastest pace since June 2023, per the S&P Global flash purchasing managers index.

It's like a shot of espresso for the economy, signaling a potential uptick after months of playing it cool.

📉 Inflation's Cooling Heels: 
Guess what's taking a backseat? Inflationary pressures! Costs are rising at a pace that's barely breaking a sweat since October 2020, and businesses are hiking prices at the slowest rate we've seen since the world was grappling with the early days of the pandemic in May 2020.

👀 Eye on Inflation: 
However, the inflation rate is still hovering above the Fed’s 2.0% target, and we saw an uptick in price pressure last month. Despite the setback, we’re still seeing the best numbers in years.

🏢 Services Surge
The services domain is singing a high note with a seven-month output index peak of 52.9. Anything above 50 is like a green light, signaling growth on the horizon.

🏭 Mixed Manufacturing:
The manufacturing story is a bit of a mixed bag, though. Production's taking a modest dip, but hey, it's not all doom and gloom. Conditions for our goods producers are looking up for the first time in nine months.

👥 The Hiring Scene: 
The job market is still riding an upswing, but it's taken a slight chill pill compared to December. Whether it’s manufacturing widgets or dishing out services, businesses are keeping the 'Help Wanted' sign up.

🔮 The Big Picture: 
All in all, one thing's clear: U.S. business activity isn't just awake; it's ready to run a marathon, but, hopefully, stubbornly high inflation won’t trip it up.

Evaxion Bio [EVAX] $10.65 (+113.4%)
said it will develop tailored novel cancer vaccines based upon a new untapped source of AI-discovered targets.

SciSparc [SPRC] $6.16 (+78.0%)
revealed it had entered into a new standby equity purchase agreement worth $20 million.

Kura Oncology [KURA] $6.65 (+195.5%)
announced a $150 million private placement that paid $17.25 per share, a 29% premium over the stock’s closing bid on Tuesday.

Vertex Energy [VTNR] $1.44 (22.1%)
was downgraded to “market perform” from “outperform” by analysts at Northland Capital Markets.

Digital World SPAC [DWAC] $38.15 (-24.8%)
began to pullback after rallying for several days. The SPAC behind Donald Trump’s TRUTH Social started gaining after the former president’s dominant win in the Iowa GOP primary last week.

Annovis Bio [ANVS] $9.09 (21.9%)
postponed the publication of Phase 3 data from a study of buntanetap in Parkinson's Disease due to ensure data accuracy and reliability.

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

Text ELITESTOCKS to 47121 or click here 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.