Market rallies on strong Q4 GDP💪

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

Stocks notched modest gains on Thursday, with small-caps leading the charge higher.

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Market-Moving News 🔎 

💹 U.S. Economy Outpaces Forecasts in Q4

The U.S. economy put the pedal to the metal in the last quarter of 2023, leaving recession worries in the rearview mirror.

The Commerce Department's latest report shows a sprightly 3.3% annualized increase in GDP - a solid leap over the 2% growth Wall Street was betting on.

🔎 A Closer Look at the Numbers:

• Q4's 3.3% growth rate outshines Q3's already robust 4.9%.

• The economy's resilience has caught forecasters off guard, who had been bracing for a downturn.

📉 Inflation Eases Up: Inflation's also showing signs of cooling down:

• Core PCE prices (the Fed's go-to for longer-term inflation trends) rose 2% over the quarter.

• The headline rate stood at a modest 1.7%.

• Year-on-year, PCE price index went up 2.7%, a noticeable drop from last year's 5.9%.

• The core index, minus food and energy, marked a 3.2% annual rise, mellowing from the previous 5.1%.

💡 The Takeaway: 
The U.S. economy's end-of-year sprint has surprised many, hinting at a more resilient economic landscape than previously thought. With inflation showing signs of easing, it paints a hopeful picture as we step into 2024.

Processa Pharma [PCSA] $5.10 (+148.7%)
announced the completion of the safety tolerability evaluation in its Phase 1b trial of Next Generation Capecitabine.

Vera Therapeutics [VERA] $25.31 (+48.7%)
revealed it had entered into a new standby equity purchase agreement worth $20 million.

Lava Therapeutics [LVTX] $2.23 (+42.9%)
will team up with Merck [MRK +1.0%] to develop a LAVA-1207 plus Keytruda combo therapy.

1847 Holdings [EFSH] $1.51 (24.1%)
announced an offering of 2.6 million shares priced at $1.87 apiece.

Essa Pharma [EPIX] $6.80 (-22.6%)
reported disappointing clinical data from a Phase 1 trial of EPI-7386 at the 2024 ASCO Genitourinary Cancers Symposium.

Su Group [SUGP] $3.12 (22.0%)
continued to slide after a poor performance on Wednesday following its IPO.

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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