POOL - Why Poolcorp Stock Bounced Back Today
2024-07-11 13:44:18 ET
Shares of the United States' largest pool supplies distributor, Pool Corporation (NASDAQ: POOL) , were up 5% as of 1 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence .
Buoyed by news earlier today that inflation continued to ease , Pool Corporation's stock popped on the higher probability of lower interest rates coming before year's end.
Thanks to the easing inflation seen in Thursday's most recent report, a 25- basis-point rate cut now has an 88% chance of happening in September (it was 68% a week ago) and 52% likelihood in December, according to CME, a financial services company.
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Why Poolcorp Stock Bounced Back Today