Diamonds and Dogs

9/18/24

Zillow (ZG) had a good day thanks to the Fed. The real estate website stock jumped 4% to new highs as investors hope the 50 bps rate cut will fuel hopes that lower mortgage rates will provide sluggish housing market with a boost.

Sysco Corp (SYY) fell 4% after the food and marketing distributor made cautious at Wells Fargo conference commented on softening traffic trends, softer than the -3% number industry has suggested for the quarter, further confirmation the economy is slowing.

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