Health Stocks Surge on Fed Rate Cut Hopes

Major health stocks, including Zimmer Biomet, Cigna, Universal Health Services, Henry Schein, and Sotera Health Company, saw significant gains earlier this week, with share prices jumping over three percent. This surge followed comments from New York Federal Reserve President John Williams, suggesting there might be room for a further adjustment in interest rates soon. The likelihood of a rate cut in December more than doubled, sparking a wave of positive sentiment and leading many investors to buy stocks, particularly those that could benefit from lower interest rates and a stronger economy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.