3 ETF Sectors Hitting 52-Week Highs After Fed Rate Cut

The Federal Reserve started the new rate cycle era last week, infusing strong optimism in various areas of the global markets and commodities. Wall Street has been hovering around a 52-week high. While the gains were broad-based, some areas were the biggest gainers and hit a 52-week high each on Sept. 20, 2024. We have highlighted three ETF areas that came to the forefront due to the Fed-induced rally.

Inside the Latest Fed Rate Cut

On Wednesday, the Fed announced a 50-basis-point cut in interest rates, marking its first reduction since March 2020. The new benchmark policy rate now stands between 4.75% and 5.00%. The rate cut was widely anticipated, though there was uncertainty over its size. A 25-basis-point reduction was expected by many, but softer-than-expected economic data led to calls for a larger cut. Ultimately, the ...