Rate change sends money into the market.
By Robert Warther, Warther Private Wealth
Trillions of dollars had been sidelined, waiting for a reason to be deployed. When Chairman Powell signaled that rate increases might stop sooner or happen more slowly, investors took advantage of the opening they needed to deploy assets.
Money poured into the market. Growth stocks, which have been beaten up over the last six weeks, showed the most appreciation to the new influx of cash, raising the DOW by over 600 points.
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