Freeport-McMoRan shares are trading higher in possible sympathy with the broader market after the Fed's policy decision to cut rates by 50 basis points.
Portfolio Pulse from Benzinga Newsdesk
Freeport-McMoRan shares are experiencing an uptick, likely influenced by the Federal Reserve's decision to cut interest rates by 50 basis points, which has positively impacted the broader market.
September 18, 2024 | 6:37 pm
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Freeport-McMoRan shares are trading higher, likely due to the Federal Reserve's decision to cut interest rates by 50 basis points, which has positively influenced the broader market.
The Federal Reserve's rate cut is generally seen as a positive for equities, as it can lead to lower borrowing costs and stimulate economic activity. Freeport-McMoRan, being part of the broader market, is likely benefiting from this sentiment, leading to a rise in its share price.
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