Which stocks are getting a boost?
Navigator.com stock is trading higher after the US Federal Reserve raised interest rates.
The stock climbed 1.8 percent on Tuesday to close at $31.12.
The S&P 500 gained 1.3 percent.
The Federal Reserve announced it would gradually lower interest rates for a second time in two years on Thursday, but it gave no reason for the move.
Treasury Secretary Steven Mnuchin, the US Treasury’s top official, said the decision to lower interest rate targets was the result of the Fed’s decision to ease the pace of its policy tightening.
He said the move was expected to have an impact on the broader economy, with the impact being felt “as far as growth, job creation, consumer confidence and overall economic health.”
Treasury’s monetary policy committee said it was not raising rates because it expected economic growth to continue its path.
The Federal Reserve has already cut interest rates twice this year.
Mnuchin said the Fed will raise rates for another two months and the Fed could increase its benchmark overnight lending rate from 1.25 percent to 2.0 percent in the first half of 2018, as it has in the past.
Mmnten said he expects the Fed to raise rates again by December or January.