Westamerica Bancorporation Stock Surges on Rate Cut Hopes
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Westamerica Bancorporations stock surged by 2.6% following optimistic comments from a Federal Reserve official, hinting at a potential interest rate cut in December. This news boosted market sentiment and increased the likelihood of a rate cut from 39% to over 73%, as per the CME FedWatch tool. Despite this recent gain, the stock is still down by 7.6% year-to-date and trading 18.2% below its 52-week high.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
