Shares of SoFi, WisdomTree, Ridgepost Capital, Ares, and S&P Global surged in afternoon trading after Federal Reserve Governor Christopher Waller signaled support for holding interest rates steady amid signs of disinflation. In a Reuters NEXT Newsmaker interview, Waller noted that the three-month annualized PCE inflation rate has dropped from 4.76% in February to 3.05% currently, and if positive trends continue, he would favor keeping the federal funds rate unchanged. However, he cautioned that if upcoming August data shows the disinflationary progress is fleeting, a rate hike may still be appropriate at the FOMC meeting on September 15 and 16. Following his comments, market-implied odds for a September rate hike fell to 48.4%, down 15 percentage points from the prior day, according to the CME Group's FedWatch gauge cited by CNBC. Among the gainers, SoFi jumped 4.7%, WisdomTree rose 3.9%, Ridgepost Capital gained 2.3%, Ares climbed 3.1%, and S&P Global advanced 4%.
Ares Management LP
Ridgepost Capital, Inc
SoFi Technologies Inc.
WisdomTree Inc.
S&P Global Inc