Fed rate cut boosts investor sentiment; Cipher Mining stock near highs. Russell 2000 index surged 1% to 2,550 points. Dow Jones, S&P 500, Nasdaq 100 gained slightly. Small caps seen as biggest beneficiaries of lower borrowing costs.
Investor sentiment received a boost on Wednesday after the Federal Reserve made its third consecutive cut in interest rates. This led to gains in high-beta stocks related to clean energy, crypto mining, and space tech. Cipher Mining's stock is trading near recent highs, sparking curiosity about its future performance. The Russell 2000 index, represented by the iShares Russell 2000 ETF (NYSE: IWM), surged to 2,550 points, achieving fresh record levels with a nearly 1% increase during the session. Small-cap stocks are being viewed favorably by investors due to the decline in borrowing costs. The Dow Jones, S&P 500, and Nasdaq 100 also experienced marginal gains. More details are available on Benzinga.com.
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