Powell comments boost rate cut hopes 💵

Stocks rallied after Fed chairman Jerome Powell signaled a path ahead for rate cuts this year.                                                                                                                                                                                                                                                                                                                                                                                                                 March 06, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 The market rebounded on dovish comments from Federal Reserve Chairman Jerome Powell’s congressional testimony this morning. - DJIA [+0.2%] - S&P 500 [+0.5%] - Nasdaq [+0.5%] - Russell 2K [+0.7%] [This Stock Market Hack is Like Clockwork]( A world-famous analyst just revealed a trick he's used week after week to rack up double and triple-digit trades… And considering that his track record boasts an amazing 97% win rate… even in today's market, I'd say it works pretty well. Great for him - but what does that mean for YOU? With all the uncertainty in today's economy and the stock market, he's agreed to reveal this strategy so other regular investors can use it too. [Access a Full Briefing on the NEXT PAGE »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 🏦 Fed Signals Cautious Path Towards Rate Cuts Jerome Powell, chair of the Federal Reserve, delivered a message of cautious optimism to the House Financial Services Committee, emphasizing that while the Fed is on track to reduce interest rates later this year, it hinges on more concrete signs that inflation is on a consistent downward trajectory. Despite January's robust inflation and hiring figures, the central bank's stance remains unchanged, awaiting further data to bolster confidence in reaching their 2% inflation target. 🔍 A Deliberate Approach Powell underscored the need for patience, stating the Fed isn't necessarily seeking better inflation metrics than those recently observed—rather, it seeks a series of them to ensure the slowdown isn't a fleeting phenomenon. "We want to see a little bit more data so that we can become confident," he remarked, highlighting a strategy of careful and thoughtful consideration before initiating rate cuts. ⚖️ Balancing Act The Fed is navigating between the Scylla and Charybdis of monetary policy: the risk of acting too hastily, potentially destabilizing the economy, versus the danger of acting too late, allowing inflation to root itself firmly above the desired goal. Powell's testimony reflects a nuanced understanding of these challenges, aiming to adjust policy restraint without tipping the economic scales too drastically in either direction. This careful balancing act is crucial as the Fed plots its course through uncertain economic waters, with the overarching goal of ensuring a steady return to its inflation objective without undermining economic growth or employment. Top Winners and Losers 🔥 Aptorum [APM] $9.49 (554.4%) agreed to a plan of merger with privately-held YOOV Group Holding. Solowin [SWIN] $47.00 (+135.0%) announced a new membership interest purchase agreement with Cambria Capital LLC. NKGen Biotech [NKGN] $1.83 (+112.3%) will present new data on SNK01 NK for advanced Alzheimer’s disease at an at a March 25th to 26th industry conference. BioAffinity [BIAF] $1.50 (50.0%) announced a $2.5 million registered direct offering and a concurrent private placement of its shares. Entravision [EVC] $1.79 (49.8%) posted an unexpected operating loss on its Q4 earnings report. Phunware [PHUN] $10.27 (30.2%) pulled back after a sudden rally that began after President Donald Trump won a legal victory to stay on the ballot in Colorado. 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]( [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