Michael Kantrowitz, chief investment strategist at Piper Sandler, discusses the recent Federal Reserve decision to cut interest rates by 50 basis points. He characterizes this move as a measure to bolster confidence in the economy, particularly aiding small businesses that may benefit from lowered borrowing costs.
Positive
The Fed's rate cut is expected to stimulate borrowing and investing, particularly in sectors that are sensitive to interest rates such as financials and consumer discretionary. Companies that rely on borrowing for expansion or day-to-day operations could see an upturn in performance as the cost of capital decreases, potentially leading to higher stock prices.
Oct 11, 2024, 11:03 AM
Profits at JPMorgan and Wells Fargo both fell from the year-ago period, but those declines were less than what analysts expected.
Oct 11, 2024, 10:21 AM
JPMorgan and Wells Fargo get earnings season going in earnest while a wholesale inflation print is in focus after the CPI surprise.
Andersen Capital Management CIO Peter Andersen joins 'Mornings with Maria' to discuss big bank earnings and weighs in on the Federal Reserve's handling of rate cuts.