Should You Buy BK Stock as it Hits All-Time High on Fed Cuts Rates?

Shares of The Bank of New York Mellon Corporation (BK) , popularly known as BNY Mellon, have performed well this year. The stock touched its all-time high of $71.80 during Wednesday’s trading session as the Federal Reserve announced a cut of 50 basis points (bps) in interest rates. The BK stock finally closed yesterday’s session at$71.04, soaring 36.5% year to date. It has outperformed its industry, the S&P 500 Index and its close peers —Northern Trust (NTRS) and State Street (STT) — so far this year. Year ...