Following the Federal Reserve’s decision to hold rates steady, investors have turned optimistic about potential rate cuts in 2024. CFRA’s Chief Investment Strategist Sam Stovall joined Yahoo Finance Live anchors Brad Smith and Seana Smith to discuss the renewed market optimism and massive rally following the Fed decision. Stovall notes Wall Street “had been guessing” about rate hikes versus cuts in 2024, but Fed Chair Jerome Powell’s press conference signaling that the Fed is done with hikes and is considering cuts “took the lid off the markets concerns.”
Stovall suggests sectors like financials and real estate are good investment opportunities now, as they were “pressured the most” due to high rates. Between factors like the upcoming election and bullish technical market indicators, Stovall sees room for further gains, saying the “market has further to run.”
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One by one steady, that’s it…
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