Top movers from Tuesday 📈

Stocks edged higher in a quiet session for U.S. stocks.                                                                                                                                                                                                                                                                                                                                                                                                                 May 21, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 The market continued to drift higher on Tuesday despite no major news or economic updates. - DJIA [+0.2%] - S&P 500 [+0.2%] - Nasdaq [+0.2%] - Russell 2K [-0.2%] » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 Jamie Dimon, CEO of JPMorgan Chase, at summit in London, U.K., in Nov. 2023. (©2024 Bloomberg | Bloomberg | Getty Images) ⚠️ Fed Governor Waller is Cautious on Rate Cuts Federal Reserve Governor Christopher Waller signaled a cautious stance on interest rate cuts, emphasizing the need for sustained improvement in inflation data before supporting any easing of monetary policy. Inflation Data 📉 Waller acknowledged recent data indicating a slowdown in inflationary pressures, citing factors such as flattening retail sales and cooling activity in manufacturing and services sectors. Despite this, he maintained that further rate hikes are likely unnecessary given the current economic conditions. Wait & See 🤔 While Waller expressed openness to potential future adjustments, he emphasized the importance of consistent improvement in inflation metrics. He underscored the need for several months of favorable inflation data and emphasized the significance of labor market indicators in his decision-making process. CPI Report 📊 April's consumer price index (CPI) report, showing a 3.4% inflation rate year-over-year, received a mixed response from Waller. While he welcomed the slight moderation in inflation, he stressed the need for more substantial evidence of a sustained downtrend before considering policy adjustments. Room for Improvement 📈 Waller graded the CPI report as a "welcome relief" but noted the modest progress, indicating that additional evidence is necessary to warrant policy changes. He refrained from providing specific timelines or extent of potential rate cuts, highlighting the evolving nature of the economic landscape. Forward-Looking Approach 🌱 Maintaining a forward-looking perspective, Waller refrained from disclosing precise criteria for future policy decisions, underscoring the importance of flexibility and data-driven insights in shaping monetary policy. Top Winners and Losers 🔥 MGO Global [MGOL] $1.25 (+443%) reported a 1,385% YoY increase in revenues on its Q1 earnings report and narrowed its operating loss to just $(0.01) per share. Biodexa Pharma [BDRX] $2.33 (+83.4%) exploded suddenly in an apparent short-squeeze rally. Borealis Foods [BRLS] $7.11 (+77.7%) rallied after publishing its Q1 results in a Form 10-Q filing early this morning. Cheetah Net [CTNT] $1.18 (92.0%) collapsed after rallying 36% on Monday, despite no obvious company-specific news to explain the sudden volatility. American Oncology [AONC] $1.70 (35.3%) announced its voluntary de-listing from the Nasdaq exchange. WiSA Tech [WISA] $2.46 (30.9%) sold-off after posting weaker-than-expected Q1 results on a Form 10-Q filing 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. I may earn a small commission from links placed inside these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America [[beehiiv logo]Powered by beehiiv](