BUZZ-US asset managers rise after Fed cuts interest rates by 50 bps
Reuters · 22h ago
Share
Listen to the news
** Asset management stocks rise in afternoon trading after the U.S. Federal Reserve cuts interest rates for the first time since 2020
** BlackRock BLK.N, Franklin Resources BEN.N, Invesco IVZ.N and T Rowe Price TROW.O rise between 1.2% and 2.3%
** Asset managers have had to contend with softer flows in recent years as high interest rates boosted the appeal of safe-haven assets like cash
** Some investors were also waiting for more certainty on the trajectory of interest rates before wading back into riskier assets
** The Federal Reserve cut interest rates by half of a percentage point on Wednesday
(Reporting by Arasu Kannagi Basil in Bengaluru)
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
What's Trending
No content on the Webull website shall be considered a recommendation or solicitation for the purchase or sale of securities, options or other investment products. All information and data on the website is for reference only and no historical data shall be considered as the basis for judging future trends.
Copyright © 2024 Webull. All Rights Reserved