Rate cuts the main factor behind the broad rally in equities

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Rate cuts the main factor behind the broad rally in equities
Tumisu / Pixabay

Commenting on today’s broad rally in equities Gorilla Trades strategist Ken Berman said:

With the Nasdaq and small-caps leading the way higher on Friday, there is no doubt about the underlying strength behind the rally in stocks, so we could be in for a record-setting November. As one trader explained, “Friday’s session had all the trademarks of a bull market, since the ‘riskier’ sectors spearheaded the advance, volatility collapsed, and stocks finished the day near their intraday highs ahead of the weekend break.”