Small-caps rally on Powell comments 🚀

Good Afternoon! 

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

Happy Friday! It’s December 1st. I hope you have a great weekend.

Here’s what moved the market today.

Markets 📈

The S&P 500 and Nasdaq recovered from a lower open to post modest gains for the day, while the small-cap Russell 2k rallied for a big gain.

• Dow [+0.8%] 

• S&P 500 [+0.5%]

• Nasdaq [+0.5%] 

• Russell 2K [+2.8%] 

Elite Growth Stocks 🚀

Market-Moving News 🔎 

☕ Powell's Take on Rates: Cautious Optimism

Federal Reserve Chair Jerome Powell's latest comments are hinting at a possible end to the rate-hiking spree.

In his recent talk at Spelman College in Atlanta, Powell dropped a major hint that the Fed's aggressive rate increases might be taking a back seat, stating their policy is now "well into restrictive territory."

📉 Not Quite Ready for Rate Cuts: But hold your horses, rate watchers! Powell wrapped his insights with a layer of caution. He’s not ready to confidently say they’ve hit that "sufficiently restrictive" sweet spot just yet.

💡 Signs of Success: There's some good news, though. Powell pointed to slowing inflation and wage growth as signs that the Fed's tough love on rates is bearing fruit. Expectations are set for the economy to simmer down even more.

🔮 Future Hike Possibilities: Powell isn't closing the door on future rate hikes. He’s setting the bar higher for any more increases, but he’s also clear that they'll tighten the screws further if needed.

🌐 Market Expectations vs. Reality: While financial markets are buzzing about potential rate cuts as early as next spring, Powell suggests it's too early for that talk.

📌 What’s Next: As December's meeting looms, the Fed seems poised to keep rates steady, leaning more towards a future hike than a cut. Powell's balancing act continues, navigating between cooling the economy and not jumping the gun on easing policies.

Neximmune [NEXI] $6.05 (+143.9%) rallied despite news that Nasdaq had sent it a warning that it was subject for delisting.

View [VIEW] $1.03 (+63.2%) suddenly rebounded after a long slide, but there was no obvious catalyst to explain the move.

Pineapple Financial [PAPL] $2.20 (+50.6%) announced a new corporate office in Metro Vancouver, B.C., Canada.

Ampio Pharmaceuticals [AMPE] $3.22 (44.1%) pulled back after rallying more than 200% on Thursday.

Smart for Life [SMFL] $1.36 (43.5%) announced an exercise of warrants that generated $1.5 million in gross proceeds.

Incannex Healthcare [IXHL] $5.23 (34.5%) continued to fall after completing its Nasdaq-NMS IPO on Thursday.

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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