Stocks rally on dovish Fed talk 📈

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

Stocks continued their upswing on Thursday, thanks to more dovish comments from Fed Chair Jerome Powell, who said the Fed is ‘not far’ from the confidence it needs to cut rates.

Eye-Popping 96% Win Rate for Simple Options

When smart traders win 96% of their options trades... with this simple system...

Could this be the easiest trading system ever?

It's not complicated.

It's not some weird AI indicator.

It's not about spending hours glued to a trading chart.

Instead, it's a system that wins 96% of the time.

Get Started on the Next Page »

» Want an Ad-Free Experience + Top Growth Stock Picks? Upgrade Now! 

Market-Moving News 🔎 

🏦 Powell Edges Closer to Rate Cut Confidence

Federal Reserve Chair Jerome Powell, in his continued dialogue with lawmakers, indicated the central bank is inching closer to the level of confidence needed to consider lowering interest rates.

His remarks suggest that the current rates, significantly higher than those typical in periods of moderate growth and mild inflation, are nearing a pivot point.

⏲️ Timing is Everything 
During his second day of testimony, Powell elaborated on the Fed's timeline for potentially easing interest rates. He emphasized that once the Fed achieves sufficient confidence in inflation moving back towards its 2% goal, it would be prudent to adjust rates downward.

This statement comes amidst speculations that the Fed could initiate rate cuts as early as mid-year, steering clear of any adjustments in the upcoming March 19-20 meeting.

📉 Restrictive Rates 
Powell also reflected on the current stance of interest rates, describing them as "well into restrictive territory." This assessment aligns with the central bank's strategy of tempering economic activity to control inflation.

By comparing current rates against the neutral rate, which balances economic supply and demand, Powell underscored the Fed's cautious approach to navigating monetary policy adjustments.

🔍 Economic Equilibrium 
The Fed's deliberations on interest rates revolve around achieving a delicate balance between stifling inflation and fostering economic growth. Powell's testimony sheds light on the complex considerations at play, including the elusive neutral rate that signifies economic equilibrium.

As the Fed edges closer to adjusting its policy stance, Powell's insights offer a glimpse into the nuanced process of steering the economy towards stability.

Lytus Technologies [LYT] $8.70 (+276.6%)
announced the launch of a suite of cloud infrastructure services it’s calling the Lytus Cloud, triggering an apparent short squeeze.

Brera Holdings [BREA] $1.95 (+91.1%)
disclosed that its executive chairman and veteran investment banker Daniel McClory acquired a majority stake in the company.

Immuron [IMRN]$4.55 (+175.7%)
published positive interim top-line data from a Phase 2 trial of IMM-124E (Travelan®) as a preventative treatment for moderate to severe diarrhea following challenge with enterotoxigenic E-coli.

Solowin [SWIN] $30.25 (35.6%)
pulled back after a 135% rally on Wednesday that followed its announcement of a new membership interest purchase agreement.

Methode Electronics [MEI] $14.49 (31.1%)
posted an unexpected operating loss on its fiscal Q3 earnings report and suspended its forward-looking guidance.

Nature Wood Grp [NWGL] $11.74 (36.3%)
posted a steep YoY sales decline in its full-year 2023 earnings, citing an “ongoing global economic downturn and geopolitical tensions.”

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.