Federal Reserve Chair Jerome Powell signals possible rate cuts in 2024, sending real estate stocks soaring to outperform all other sectors in the S&P 500.
It’s shaping up to be a positive Thursday on Wall Street, with risk sentiment remaining robust after the Federal Reserve effectively opened the door to rate cuts in 2024.
Fed delivered what markets wanted: likely no more rate hikes & rate cuts in 2024. Interest rate-sensitive assets outperformed, with small-caps, Treasuries & gold rising, while the dollar dropped.
The MUSQ Global Music Industry ETF (ARCA: MUSQ) closed flat on Wednesday, continuing to consolidate the break north from a bull flag pattern, which Benzinga pointed out on Dec. 5 and on Nov. 30.