Federal Reserve Interest Rate Cut Expectations Boost Shares of Lazard, Evercore, and BGC

Lazard, Evercore, and BGC shares surged as investors became more optimistic about a potential Federal Reserve interest rate cut in December. New York Fed President John Williams stated the central bank could cut rates "in the near term" without jeopardizing inflation targets, leading to a significant increase in market expectations for a rate cut in December. The stocks jumped 3.7% and 3.6% for Evercore and BGC, respectively, while Lazard jumped 3.7%.