The broader U.S. equity markets witnessed an upward trajectory over the past few trading days in one of the longest winning streaks since the beginning of 2024, buoyed by the optimism regarding a probable interest rate cut by the Federal Reserve in the near future. With weaker-than-expected job growth per the April nonfarm payrolls report and moderating wage gains, investors are pricing in a second rate cut by the end of the year with a nearly 50% likelihood of a 25-basis point rate cut in September. Recent ...