Stocks EXPLODE on Dovish Fed Meeting 💥

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 rallied after Federal Reserve officials signaled a potential end to rate increases and penciled in three rate reductions for next year. It was the strongest single-day performance for U.S. indexes in weeks.

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Market-Moving News 🔎 

📉 Fed Anticipates Slower Growth in 2024

Following the conclusion of their two-day meeting, Federal Reserve officials have revised their U.S. economic growth projections.

They now anticipate a more modest inflation-adjusted growth rate of 1.4% in 2024, a significant drop from the 2.6% forecast for 2023.

📈 Looking Ahead: 

The Fed's outlook brightens slightly in the subsequent years, with growth expected to pick up to 1.8% in 2025 and 1.9% in 2026.

📊 Unemployment Rate Projections: 

There's an expected uptick in unemployment, with rates projected to rise from 3.8% at the end of 2023 to 4.1% by the end of 2024.

🏦 Balancing Act: 

These latest forecasts reflect the Fed's expectation of the economy settling into a more sustainable growth rhythm over the next few years while steering clear of a recession.

In essence, the Federal Reserve's projections paint a picture of cautious optimism, anticipating a gentle slowdown that aligns growth with long-term sustainability, all while navigating the tricky waters of economic stability and employment.

C4 Therapeutics [CCCC] $5.51 (+135.4%)
said its CFT7455 drug candidate demonstrated “"promising signs of anti-myeloma and immunomodulatory activity" in a clinical trial.

Shattuck Labs [STTK] $4.86 (+130.3%)
released a new bout of positive top-line data from a Phase 1A/B study of SL-172154 of Azacitidine in certain cancer patients.

LQR House [LQR] $2.14 (+65.8%)
unveiled a new marketing campaign for its Soda Jerk unit’s ready-to-drink beverages, including Root Beer and Orange Cream flavors.

ECD Auto Design [ECDA] $1.89 (+35.4%)
continued to slide in its first day of public trading since completing its merger with EF Hutton Acquisition Corp. on Tuesday.

Blackboxstocks [BLBX] $2.94 (23.6%)
agreed to acquire Evtec Aluminium Ltd. on Dec. 12th, and expects to close on the transaction in Q1 2024.

G1 Therapeutics [GTHX] $2.41 (35.3%) 
suddenly pulled back after rallying 72.1% over the past 30 days.

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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