Market Rally Ignites Amid Hopes of Rate Cut

eHealth and Revolve shares surged after Federal Reserve comments boosted hopes for an interest rate cut. New York Fed President John Williams stated there's room for a further adjustment in the near term, increasing the probability of a rate cut at the December meeting. This positive sentiment provided relief to markets amid concerns over high valuations, particularly in AI-related stocks. Revolve's shares are extremely volatile and have had 31 moves greater than 5% over the last year.