Stocks jump on Nov. jobs data 📈

Good Afternoon! 

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

I hope you had a great trading session. Here’s what moved the market today.

Markets 📈

Stocks ended the trading week with another solid performance and maintained their positive momentum heading into the weekend.

Sponsored

Uranium Stocks Are on FIRE! 🔥

But the boom is still in its early stages….

Growth could skyrocket in 2024 thanks to clean energy initiatives, and there’s still time to get in on the ground floor.

Get the Details on this Breakout Growth Play Here

Market-Moving News 🔎 

💼 November Jobs Report Portends a Pause to Rate Hikes

The latest jobs report suggests the Federal Reserve might hit pause on rate increases. November's data reveals a labor market that's robust yet showing signs of slowing down from the previous year's feverish pace.

💸 Wage Growth Moderation: 
A key element for the Fed, average hourly earnings, rose by 4% from last year, slightly cooling from October's initial 4.1% figure. This slowdown in wage growth aligns with the Fed's strategy to combat inflation.

👥 Labor Force Dynamics: 
Encouragingly, more individuals are entering the workforce. The report shows a significant decrease of 352,000 in adults not participating in the labor market, while the labor force participation rate inched up to 62.8%.

🔍 Implications for Inflation: 
This expansion of the labor force could relieve some of the pressure on employers to hike wages, a factor that's crucial for keeping inflation in check.

In essence, November's jobs report paints a picture of a labor market that's finding its equilibrium – strong enough to signal economic health but cooling enough to potentially ease the Fed's aggressive rate hike approach. 🏦👩‍💼

MBIA Inc. [MBI] $13.42 (+81.8%)
announced an eye-popping special cash dividend of $8 for every share of common stock to shareholders of record on Dec. 18th.

📈 Shares added another 12% after our premarket alert.

Intensity Therapeutics [INTS] $6.88 (+72.0%)
Published promising clinical data from a Phase 2 INVINCIBLE trial of INT230-6 in early-stage breast cancer patients.

Alx Oncology [ALXO] $12.26 (+32.5%) 
rallied after analysts at Jefferies upgraded it from “hold” to “buy”.

African Agriculture [AAGR] $2.30 (+51.0%) 
has been in free fall since completing its SPAC merger with 10X Capital Venture SPAC earlier this week.

Golden Heaven [GDHG] $1.36 (41.3%) 
Took steep losses for the second day in a row following the company’s announcement of a new lease framework with an amusement park.

Bluebird Bio [BLUE] $2.86 (40.5%) 
Fell on reports that its newly approved sickle cell disease therapeutic would cost $3.1 million, 50% higher than a competing formula from Vertex Pharmaceuticals [VRTX -1.0%] that was also approved today.

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.