The Federal Reserve Just Made These 2 Stocks Big Winners, and Shareholders Are More Bullish Than Ever
Investors have been nervous all year about the impact that the Federal Reserve has had on the overall economy. Many market participants perceived the Fed as having been late in responding to inflationary pressures. They've also been concerned about the rapid pace of interest-rate increases that the monetary-policy body implemented to fight inflation.
Therefore, when the Fed said on Wednesday that it would leave interest rates unchanged in December and expected to start cutting rates in the coming year, investors couldn't have been more pleased. The move launched a rally that sent the Dow Jones Industrial Average (DJINDICES: ^DJI) to a record high and saw other stock market indexes climb to their best levels in nearly two years.
Yet even as the broader market rallied, some stocks definitely benefited the most from the Fed's apparent pivot. Below, you'll learn more about why Upstart Holdings (NASDAQ: UPST) and Affirm Holdings (NASDAQ: AFRM) were big winners in the aftermath of the Fed announcement -- and why they could keep moving higher in 2024.
Source Fool.com
