3 ETF Sectors Hitting 52-Week Highs After Fed Rate Cut
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 23 2024
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Source: NASDAQ.COM
Federal Reserve Rate Cut: The Federal Reserve announced a 50-basis-point cut in interest rates, marking its first reduction since March 2020, with expectations for further cuts by the end of the year and into 2026, leading to optimism in global markets and commodities.
ETF Performance Highlights: Key sectors such as Utilities and India-focused ETFs have reached 52-week highs due to the favorable economic conditions, while gold bullion ETFs also benefited from the Fed's easing policies and a weaker dollar.
Analyst Views on OUNZ
Wall Street analysts forecast OUNZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OUNZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 47.310
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Current: 47.310
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
