Strong earnings lift stocks higher

The stock market shook off its Monday blues with modest gains on Tuesday...

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

The market returned to form on Tuesday and notched modest gains after starting the week with a lackluster performance.

  • S&P 500 [+0.2%]

  • Dow [+0.3%]

  • Nasdaq [<0.1%]

  • Russell 2K [+0.7%]

Investors flock to gold during times of uncertainty, instability, and geopolitical crisis.

We saw this with the COVID-19 pandemic, the Russia-Ukraine war, and now the Israel-Hamas conflict.

While analysts are increasingly bullish on the yellow metal, new gold discoveries are urgently needed to meet the projected future demand.

Market-Moving News 🔎 

❄️ January's Chill Sets Natural Gas Record 

On a bone-chilling day last month, Americans cranked up the heat, setting a new benchmark for natural gas consumption.

The Energy Information Administration spotted a peak usage of 141.5 billion cubic feet on January 16th, eclipsing the prior record during 2022's fierce blizzard.

☃️ Winter Surge 
This monumental consumption leap was over 40% above the daily production dance, leading to one of the largest pulls from the nation's gas reserves.

Yet, this voracious demand hasn't ignited prices, which hover near a historic dip since the summer days of 2020.

📉 Prices in the Cold 
Despite the frosty fervor for fuel, natural gas prices teeter on the edge, threatening to tumble below $2 per million British thermal units.

A paradoxical twist where abundant consumption meets declining prices, painting a complex picture of America's energy landscape.

Top Winners and Losers 🔥

Zenvia [ZENV] $1.78 (+54.7%)
announced an agreement to address a funding gap and introduced EBITDA guidance for 2024.

Equillium [EQ] $1.23 (+53.7%)
was upgraded from “sell” to “buy” by analysts at Refinitiv/Verus.

Immunome [IMNM] $23.11 (+36.9%)
plans to acquire a desmoid tumor treatment candidate from Ayala Pharmaceuticals [ADXS].

BioRestorative [BRTX] $1.57 (54.4%)
announced an agreement with shareholders to exercise existing warrants at a reduced price for a gross proceed of $8.1 million.

Peraso [PRSO] $1.75 (42.6%)
continued to plummet after announcing a $4 million underwritten direct offering yesterday morning.

Sagimet Bio A [SGMT] $6.35 (30.3%)
fell after a Form SC 13G disclosure revealed Point72 Asset Management has taken a 5.3% stake in the company.

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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