Rebound rally lifts stocks 📈

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

Stocks recovered from yesterday’s pullback with a rebound rally on Thursday. Most indexes saw gains exceeding 1.0%.

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Market-Moving News 🔎 

🏡Mortgage Rates Fall to Six-Month Low

In a welcome shift, mortgage rates have plunged to their lowest since June, bringing some relief to the beleaguered housing market grappling with high borrowing costs.

📉 Rate Details:

• Significant Drop: The average rate for the standard 30-year fixed mortgage has decreased to 6.67%, marking a quarter percentage point fall. This data comes from a recent survey by Freddie Mac.

• Trend of Decline: Last week saw mortgage rates dip below 7% for the first time since August. This decrease continues a trend that has been observed over several weeks, culminating in a significant reduction from the near 8% peak witnessed this fall.

🔍 Impact on Homebuyers: 
This decrease in mortgage rates is a crucial development for potential homebuyers, potentially easing the financial strain of purchasing a home and stimulating market activity after a period of heightened rates.

Lottery.com [LTRY] $3.67 (+180.1%)
secured an $18 million commitment from Prosperity Investment Management.

Infrared Cameras [MSAI] $4.94 (+88.5%)
rebounding from a steep sell-off that followed its SPAC merger with SportsMap Tech Acquisition Corp earlier this week.

Mullen Auto [MULN] $14.25 (+78.1%)
delivered 38 Class 3 vehicles to Rady Marion Automotive and invoiced the company $2.5 million.

Polished.com [POL] $4.04 (46.9%)
pulled back after rallying 617% on Wednesday.

Revelstone SPAC [RCAC] $6.30 (41.7%)
sold off ahead of a major vote on its planned merger with Set Jet scheduled for Dec. 27th.

Longeveron [LGVN] $1.25 (22.8%) 
announced a $2.36 million registered direct offering of 1.36 million shares of its common stock.

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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