Why TreeHouse Foods Rallied Today

The indebted private-label food manufacturer rallied on the prospect of interest rate cuts.Shares of private label food manufacturer TreeHouse Foods (THS 10.68%) rallied double digits on Friday, appreciating 10.5% as of 1:21 p.m. ET.Today, Federal Reserve Chair Jay Powell appeared to hint at interest rate cuts in the months ahead. The prospect of rate cuts led to a bout of buying and short covering in many rate-dependent stocks. As a highly indebted name, TreeHouse was no exception.Jay Powell hints rate cut ...