Friday Finale: Slim Gains for U.S. Stocks

The S&P 500 closed just a hair above flat to keep its win streak alive, while the Nasdaq edged lower on the day.

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

Stocks turned in a lackluster performance in the final day of the trading week, but most U.S. index managed to keep their winning streak intact. However, the Nasdaq closed the day with a small loss.

  • DJIA [+0.1%]

  • S&P 500 [<0.1%]

  • Nasdaq [-0.2%]

  • Russell 2K [+0.1%]

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Market-Moving News 🔎 

📉 Inverted Yield Curve Limbo: How Low Can it Go?

It's not every day you see financial markets play a game of Twister, but here we are, watching the yield curve bend itself into a pretzel. The inversion, where short-term yields strut higher than their long-term buddies, just hit its "I'm seriously not okay" levels for the year.

🤸‍♂️ Going Deep
On a day that felt more like a slow dance at a bond trader's prom, the 10-year yield decided to take a little nap, slipping down by about 0.07 percentage point. Meanwhile, the 2-year yield, that eager beaver, barely budged. The result? The inversion deepened, making economic soothsayers twitch.

🚩 Red Flags
In the world of "will they, won't they" — not a romcom, but the saga of interest rates — this kind of inversion is the market's way of waving red flags. Usually, folks expect a bit more $$$ for locking up their cash in long-term bonds. So, when the script flips, it's like the bond market whispering, "Psst, I smell a recession."

💸 Fed Watch
With everyone from Wall Street wizards to your average Joe recalibrating their crystal balls, the general vibe is the Fed might just play hard to get with those rate cuts.

This year, yields across the board are strutting upwards, with short-term yields getting a bit too excited and long-term yields wondering what all the fuss is about.

So, as we navigate this inverted world, remember: in finance, as in yoga, flexibility is key. Who knew the bond market could be so bendy?

Top Winners and Losers 🔥

Atlasclear [ATCH] $2.64 (+131.5%)
rebounded from a long slide that began last week, when it made its public market debut following a merger with Quantum FinTech SPAC.

AXTI [AXTI] $3.86 (+69.3%)
posted a double-line earnings beat on its Q4 earnings report in Thursday’s aftermarket.

Maravai Lifescience [MRVI] $8.36 (+63.6%)
posted stronger-than-expected Q4 2023 earnings results and optimistic full-year 2024 outlook on its quarterly report.

Microcloud Hologram [HOLO] $6.61 (39.9%)
tumbled for the second day in a row, as the week-long pump & dump short squeeze continued to crumble.

ModivCare [MODV] $26.62 (39.3%)
posted weak Q4 earnings, prompting several analysts to downgrade their ratings and slash their price targets on the stock.

Upland Software [UPLD] $2.82 (36.2%)
reported Q4 earnings that missed analysts’ expectations.

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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