FirstCash, Mastercard, Western Union, and Nelnet Shares Skyrocket, What You Need To Know
Stocks of FirstCash, Mastercard, Western Union, and Nelnet surged after New York Fed President John Williams hinted at a potential interest rate cut in December. The probability of a rate cut increased from 37% to 70%, boosting investor optimism. Lower rates are seen as catalysts for economic activity, despite compressing bank profit margins. Mastercard's shares, less volatile historically, rose 2.6%, reflecting market significance of the news. Mastercard remains 9.5% below its 52-week high.
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