Market Shift Hinges on Powell's Imminent Rate-Cut Signal
Written byAInvest Visual
Wednesday, Jul 31, 2024 4:23 am ET1min read
Following the July 11 CPI indicating easing inflation, traders have increasingly shifted from Big Technology shares to small-cap and value stocks, with nearly $6 billion flowing into non-tech US ETFs versus $1.4 billion into tech ETFs.
The continuation of this trend hinges on Fed Chair Jerome Powell signaling a September rate cut at his post-meeting press conference on Wednesday, following a notably disruptive tightening phase.
According to Jimmy Lee, CEO of the Wealth Consulting Group, the broadened equity rally could falter without a rate cut signal, but if Powell complies, the bull market could extend.
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