Rate-Sensitive Cyclical Stocks Poised For Rally As Fed Prepares To Cut Rates: 'We're On The Path To Goldilocks,' Says Bank Of America

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Rate-sensitive cyclical stocks could see a significant rally and outperform the broader market as the Federal Reserve prepares to lower interest rates following the latest benign inflation data, according to a report by Bank of America.“Last week, inflation ticked another box for the Fed,” said economist Stephen Juneau, noting that June’s inflation reading provided the most substantial downside surprise compared to analyst estimates since 1998.

Path To ‘Goldilocks’ In 2024

Bank of America suggests we are “on the path to Goldilocks in 2024.” The bank describes a scenario with moderating but stable macroeconomic conditions and a cooling consumer price index (CPI).

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: Large Cap Small Cap IWM ETFs Broad U.S. Equity ETFs Interest Rates Analyst Color US78462F1030 Tech US4642876555 Federal Reserve Benzinga Economics Inflation SPY Macro Economic Events Bank of America Stories That Matter Top Stories Expert Ideas Equities

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 20:01:54 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 429 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21635937

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