Enphase Energy shares are trading higher after the Federal Reserve cut interest rates by 50 basis points.
Portfolio Pulse from Benzinga Newsdesk
Enphase Energy shares rose following a 50 basis point interest rate cut by the Federal Reserve.
September 18, 2024 | 6:48 pm
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Enphase Energy shares increased due to the Federal Reserve's decision to cut interest rates by 50 basis points, which generally benefits growth stocks by reducing borrowing costs.
The interest rate cut by the Federal Reserve is likely to benefit growth stocks like Enphase Energy by reducing borrowing costs, which can enhance profitability and investment in growth initiatives. This positive sentiment is reflected in the rise of Enphase Energy's stock price.
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