Stocks Surge Amid Hope for Rate Cut: Procore Technologies, Manhattan Associates, and Appian Lead the Way

Stocks including Procore Technologies, Manhattan Associates, and Appian rose after comments from New York Federal Reserve President John Williams indicated further policy easing, boosting hopes for an interest rate cut. This increased the probability of a December rate cut to 71%, causing Treasury yields to fall and benefiting growth-oriented sectors like software. The renewed hope provided a boost to these stocks, which had recently faced pressure from concerns over high valuations in artificial intelligence.