The Federal Reserve's interest rate cut will give a boost to these stocks, according to UBS. The central bank is set to release its latest policy decision Wednesday at 2 p.m. ET, with markets pricing in a half-percentage point cut as the most likely outcome. The CME FedWatch Tool last showed a 59% chance of a 50 basis point reduction.
The regional bank based in Cleveland, Ohio has gained 15% in 2024, after struggling last year in the aftermath of the regional banking crisis. By comparison, the SPDR S & P Regional Banking ETF is up more than 8% year to date. The stock is considered a buy, with 5 out of 22 analysts considering it a strong buy, according to the CNBC analyst consensus tool. Dollar Tree surfaced on the list.
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