Fed Hints at Rate Cuts, Boosts Stocks

Stocks surged yesterday, driven by Federal Reserve official John Williams hint at future interest rate cuts. This boosted investor confidence, with the likelihood of a December rate cut jumping from 39% to 71%. Companies like Genuine Parts, Home Depot, and Sleep Number saw their stock prices rise, with Genuine Parts shares jumping by 3.4%. This move is significant as Genuine Parts shares are typically not volatile, suggesting the market views this news as meaningful. The company also announced the appointment of two new independent directors to its board, further boosting investor confidence.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.