Stocks stumble in return from Holiday weekend 📉

Good Afternoon! 

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

Today is Monday, November 27th. I hope you had a great weekend.

Here’s what moved the market today.

Markets 📈

Stocks stumbled in their return from the holiday weekend. The Nasdaq [<0.1%], Dow [-0.1%] and S&P 500 [-0.2%] gained around half a point. The small-cap Russell 2K [-0.3%] managed to keep pace with its large-cap cohorts.

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Market-Moving News 🔎 

🤵🏻 JPMorgan's Dimon Cautions on Inflation Outlook

Jamie Dimon, the CEO / Big Boss Man at JPMorgan Chase, is urging caution about the market’s outlook for U.S. inflation.

Speaking at a London investment conference, he advised against getting too carried away with recent economic upswings.

🌡️ Inflation Still a Concern:

Despite investor optimism and hopes for interest-rate cuts, Dimon highlighted potential ongoing inflationary pressures. His message? Don't break out the champagne just yet.

🛬 Possible Soft Landing, But... 

While acknowledging the chance of a 'soft landing' for the economy, Dimon pointed out several factors that could keep the inflation fires burning:

• The Green Economy: Transitioning to alternative energy sources might put upward pressure on prices.

• Global Supply Chain Restructuring: As supply chains evolve post-pandemic, costs might increase.

• Government Spending: High fiscal expenditure could contribute to sustained inflation.

💰 Pandemic Cash Effect: 

Dimon also mentioned that the U.S.'s strong economic growth, which saw a 4.9% annual expansion in Q3, is still riding the wave of pandemic-related financial boosts like stimulus packages.

In essence, while the economic picture shows some positive signs, Dimon's perspective suggests a more complex scenario, where inflation remains a key player and interest rates might not ease up as quickly as hoped.

RedHill Biopharma [RDHL] $1.00 (+216.9%) said the FDA granted 5-year U.S. exclusivity for Talicia® as a special approval antibiotic.

Biodexa Pharmaceuticals [BDRX] $5.11 (+83.1%) bought a license from Adhera Therapeutics to develop tolmidone for type 1 diabetes in exchange for an undisclosed total of cash & milestone payments.

Satellogic [SATL] $1.45 (+34.2%) received a license from NOAA that could expand its business dealings with the U.S. government.

Signing Day Sports [SGN] $1.51 (24.5%) has been trading erratically since making its ASE debut on Nov. 14th.

Iterum Therapeutics [ITRM] $1.83 (20.4%) pulled back after a epic rally that drove share prices 282% higher since the start of November.

Harpoon Therapeutics [HARP] $9.74 (18.4%) fell after announcing a $75 million at-the-market issuance sales agreement on Friday.

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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