“Bank Stocks Are Soaring After the Latest Interest Rate News…”
January 2, 2024
“Last week, the Federal Reserve indicated that it will keep pushing the pause button on interest rate hikes, and that it expects to cut interest rates next year. That’s been cause for celebration on Wall Street, where high interest rates weighed on many stocks last year. The S&P 500 is rallying, and it’s up 24% as we close out 2023.
Interest rate trends affect bank stocks more acutely than others, and bank stocks have been surging on the news of moderating inflation, a receding chance of a recession, and interest rate stability. But one bank is moving higher than others, and you might be surprised to learn which one…”
https://finance.yahoo.com/news/bank-stocks-soaring-latest-interest-125000663.html
As far as I know the FED said nothing about cutting rates. That’s how the market interpreted it. This is important because its possible the Fed doesn’t do anything and leave rates as they are. I’ve said the before but personally I don’t think they will cut rates. I could be wrong though. It’s possible. We will see but this is not a forgone conclusion.