© Reuters.
Wall Street was buoyed by bullish sentiment in the recent session, fueled by expectations of the Federal Reserve putting a stop to rate hikes. This anticipation led to a rise in major Exchange-Traded Funds (ETFs) including SPY, DIA, and QQQ, which climbed approximately 1%, 0.7%, and 1.2%, respectively.
In addition to the performance of the major ETFs, niche funds also witnessed significant activity. The Asia-focused AAXJ and high-yield muni bond HYD saw trading volumes that were more than double their average, indicating a possible sustained interest in these investment instruments.
The AAXJ ETF recorded a trading volume of around 1.72 million shares and experienced an uplift exceeding 2.3% in the session. On the other hand, the HYD ETF logged a trading volume close to 2.59 million shares and registered a session increase of 0.8%.
This market movement suggests investors are reacting positively to the prospect of stable interest rates, which could potentially lead to increased profitability for companies and higher returns for shareholders. As such, this recent trend is likely to be closely watched by market participants in the coming weeks.
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