Carvana shares are trading higher amid overall market strength after the Fed cut rates by 50 bps.
Portfolio Pulse from Benzinga Newsdesk
Carvana shares are experiencing an uptick in trading due to overall market strength following a 50 basis point rate cut by the Federal Reserve.
September 18, 2024 | 6:33 pm
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Carvana shares are trading higher as the market reacts positively to the Federal Reserve's decision to cut interest rates by 50 basis points.
The Federal Reserve's rate cut is likely to boost consumer spending and borrowing, which can positively impact Carvana's business model that relies on consumer financing for car purchases. This has led to an increase in Carvana's stock price.
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