Bank of America survey: Investors' confidence boosted by the prospect of Fed rate cut Cyclical stocks may benefit from a significant rate cut

A global survey by Bank of America showed that optimism around the widely anticipated rate cut by the Federal Reserve boosted investor confidence for the first time since June, according to Michael Hartnett, an analyst at the bank. The bank's confidence indicator, based on cash levels, stock allocations and growth expectations, rose to 3.9 from 3.6, he said in a note. In addition, fund managers expect the US economy to land softly as the rate cut provides support, with the probability of a soft landing at 79%, he said.