UWMC Stock Climbs As Inflation And Jobless Claims Fuel Fed Rate Cut Speculation
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Shares of UWM Holdings Corp (UWMC) rose 1.84% to $6.92 amid speculation of a Federal Reserve interest rate cut following a rise in jobless claims to 263,000 and a 2.9% year-over-year increase in the Consumer Price Index. The mixed economic data suggests a cooling labor market, leading to expectations of a 25-basis-point rate reduction, which could benefit mortgage lending and the housing market. Benzinga Edge data indicates a bullish price trend for UWMC across various timeframes.
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