Stock slump continues 📉

Markets failed to snap a losing streak that dates back to last week.                                                                                                                                                                                                                                                                                                                                                                                                                 April 16, 2024 | [Read Online]( Presented By: Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 The market tumbled after a higher open to close the session lower for the second day in a row. The Dow was narrowly saved from closing in the red thanks to a big rally from UnitedHealth [UNH +5.2%]. - DJIA [+0.1%] - S&P 500 [-0.2%] - Nasdaq [-0.1%] - Russell 2K [-0.2%] [The first AI-powered startup unlocking the “billionaire economy” for your benefit]( It’s one of the oldest markets in the world, but until recently, the average person would never dream of investing in it. Until a Harvard data scientist and his team cracked the code with a system to identify “excess alpha.” The best part? Everyday people are already benefiting. The company that makes it all possible is called Masterworks, whose unique investment platform enables savvy investors to invest in blue-chip art for a fraction of the cost. Their proprietary database of art market returns provides an unrivaled quantitative edge in analyzing investment opportunities. So far, it's been right on the money. Every one of their 16 exits has been profitable, with recent exits delivering +17.8%, +21.5%, and +35.0% net annualized returns. Intrigued? EliteTrade.Club readers can skip the waitlist with this exclusive referral link. [Click Here To Skip The Waitlist]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 🏡 Housing Market Slump Drives Down Builder Stocks As the spring building season kicks off, the housing sector faces unexpected headwinds. Recent data from the Census Bureau indicate a significant 14.7% drop in housing starts from February to March, with the seasonally adjusted annual rate plummeting to 1.47 million units. This decline sharply contrasts with analysts' expectations, who had anticipated a 2.4% increase, signaling that the recent uptick in mortgage rates nearing 7% is dampening buyer demand. Builder Stocks 🏠The slowdown in housing starts has triggered a notable sell-off in the stocks of homebuilders and building products firms. Initially, investors had been bullish, bidding up shares in anticipation of a robust building season. However, the reality of weakening demand has reversed fortunes dramatically. Now, real estate stocks are dragging down the S&P 500, with the sector down over 10% this year, making it one of the worst performers in the index. Contrasts for Builders 🔨 This downturn marks a stark reversal from the previous year, during which shares of companies like PulteGroup, Boise Cascade, and Builders FirstSource saw significant gains, some even doubling in value, driven by high expectations and market enthusiasm akin to that seen in artificial intelligence stocks. Interest Rate Sensitivity 📊 The recent decline in housing starts suggests that the market's optimism might have been premature. Investors are now grappling with the reality that for building activity to pick up and justify the high share prices of the last year, there will need to be a favorable adjustment in interest rates. Without lower rates to stimulate demand, the building sector could face continued challenges as it moves deeper into what is typically its busiest season. Top Winners and Losers 🔥 WiSA Tech [WISA] $6.10 (+248.5%) said its WiSA Association has executed its fourth 5-year licensing agreement with a fourth major HDTV/PTV. Arrowroot SPAC [ARRW] $18.00 (+45.0%) closed on its merger with iLearningsEngines and will begin trading on the Nasdaq under symbol AILE. Palisade Bio [PALI] $5.93 (+42.5%) said a clinical study of PALI-2108 showed the drug demonstrated bioactivation in test subjects. Top Wealth Group [TWG] $1.94 (51.5%) fell in its first day of trading on the Nasdaq-NMS. Pacific Biosciences [SDIG] $1.40 (50.6%) lowered its guidance and said it expects its Q1 revenue to be flat with last year. Skillsoft [SKIL] $5.45 (40.7%) posted weaker-than-expected sales and guidance on its Q4 earnings report after Monday’s closing bell. 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. [Sign Up for Mobile Alerts Now]( [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. 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