30-year mortgage rates hit their lowest level since 2024, ETFs to consider if the Fed cuts rates

Market Overview - The Dow Jones Industrial Average is up 280 points, approximately 0.61%, outperforming the S&P 500, which shows little change, while the NASDAQ composite is down about 0.33% [2] - The Russell 2000 index is also in the green, with discussions around potential value unlocking for small caps due to anticipated rate cuts [3] - The 10-year Treasury yield has decreased to 4.02%, marking a low not seen in some time [3] Federal Reserve Insights - The Federal Reserve's interest rate decision is highly anticipated, with expectations of a 25 basis point cut already priced in by the market [5][116] - Investors are closely monitoring Chair Jerome Powell's tone during the press conference, particularly regarding the Fed's outlook on labor and inflation [7][8] - There is speculation about potential dissents among Fed governors regarding the rate cut, especially from the newly confirmed Steven Myron [116][118] Company Developments - StubHub is set to go public after raising $800 million, with plans to enhance its profile and clean up its balance sheet post-IPO [40][41] - Apple is launching its new iPhone lineup, which includes significant design changes and improved battery life, with the standard iPhone 17 starting at $799 [58][63] - FedEx is facing a cautious outlook from analysts ahead of its earnings report, with a downgrade to inline from outperform due to slowing retail sales and industrial production [30] Analyst Calls - Loop Capital upgraded Netflix to buy, raising its price target to $1,350, citing strong engagement and content lineup [31] - Bank of America reiterated its buy rating for Walmart, increasing its price target to $125, highlighting growth opportunities in AI-driven e-commerce [32] Commodities and Economic Outlook - Deutsche Bank has raised its forecast for gold prices to $4,000 for next year, indicating a bullish outlook on the commodity [4] - There are concerns about potential inflation acceleration following rate cuts, although current long-term inflation expectations remain contained [12][25]