Happy Wednesday, Zingernation! Bitcoin’s rallying, stocks are at all-time highs and GameStop is one of the top-trending stocks. It’s starting to feel like 2021 all over again (with less social distancing and masks). Even r/WallStreetBets has made a full comeback, with Redditors celebrating huge option wins in Apple and Nvidia trades.

–Aaron Bry & Nic Chahine

Today’s Price Action:

$SPY: +.82%
$QQQ: +1.31%
$DIA: -0.07%

Plus, learn how individual investors can now gain access to the profitable and growing private credit industry.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Fed Chair Powell Tempers Market Excitement: 'We Want To Gain Further Confidence' On Inflation

Briefly: Federal Reserve Chair Jerome Powell reiterated during his June press conference that policymakers “want to gain further confidence” on inflation before considering interest rate cuts, slightly dampening market enthusiasm fueled by a lower-than-expected inflation report released earlier Wednesday.

Quoted: “So far this year, the data has not given us that greater confidence. The inflation data received earlier this year were higher than expected, though more recent monthly readings have eased somewhat,” Powell stated.

So: Powell welcomed today’s reading but warned that upcoming inflation data may be “good but not [as] great” as the last one, given unfavorable base effects from the second half of 2023 which is likely to affect annual readings. Here’s what Powell’s comments mean for the Fed’s plan moving forward, and more importantly, your portfolio.

PRESENTED BY PERCENT

Private Credit, But For Individual Investors

Private credit deals averaged a 12% return in 2023 and the asset class is projected to hit $2.3T by 2027.

The problem: High minimums and large deal sizes have historically put private credit out of reach except to larger institutional investors.

On Percent, everyday accredited investors can invest in private credit with as little as $500 and gain access to:

• Double digit yield potential: Percent’s Q1 LTM net APY was over 14% after fees.

• Shorter term offerings: The average investment term is 9 months.

• Monthly cash flow: Most deals offer cash flow through monthly interest payments.

• Diversification: Access to both domestic to international deals.

Check out Percent here and earn a welcome bonus of up to $500 with your first investment.*

FIVE MOVERS

Dave & Buster’s shares traded lower Wednesday afternoon after the entertainment company reported worse-than-expected earnings.

Arm shares soared higher today, closing up more than 7% amid continued optimism in the semiconductor space and a cool inflation report.

Hut 8’s stock took off today, ending the day up more than 10% on the heels of Bitcoin and other cryptocurrencies strength.

Enphase Energy shares moved higher in Wednesday’s session, as clean-energy names bounced following the release of May’s CPI report.

Paramount’s stock was volatile today after the company’s planned merger with Skydance Media fell through.

ONE TRADE IDEA FOR TOMORROW

Nancy Pelosi Among 'Best Of The Best' In Stock Trading: New Congress Trading ETF Coming From Creator Of Anti-Cathie Wood, Jim Cramer Funds

Briefly: Investors looking to copy the trading activity of members of Congress will soon have another option with a new exchange-traded fund (ETF) filed by Matthew Tuttle, who famously launched ETFs that bet against Jim Cramer and Cathie Wood.

What Happened: The new Tuttle Capital Congressional Trading ETF NPEL was filed Wednesday and could be active in August 2024 giving investors a new way to actively monitor the trading activity of members of Congress,

So: Benzinga actively tracks the trading activity of members of Congress, particularly Nancy Pelosi, whose husband Paul Pelosi is a venture capitalist who trades large positions in stocks. Click here to learn more about Pelosi’s trades and how you can invest in the ETF.

Buy An Option At This Blue Line For The Biggest Profits

I can look at a chart and know when to buy an option. If the stock hits the blue line, I'm buying. For most, they buy options to try and hit triple digit winners, but only win 20% of the time. I'm winning up to 83% of the time thanks to following the "MoneyLine." That MoneyLine is a blue line you can put on any chart. It's free to do, free to follow... but you have to know when to buy at the blue line.

Here's where to buy an option to win more than anyone out there.

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^{Disclaimer: Alternative investments are speculative and possess a high level of risk. No assurance can be given that investors will receive a return of their capital. Those investors who cannot afford to lose their entire investment should not invest. Investments in private placements are highly illiquid and those investors who cannot hold an investment for an indefinite term should not invest. Private credit investments may be complex investments and they are subject to default risk.}