Wellness Matrix Group (OTC:WMGR) Stock, Quote.Headers.trade-ideas

Wellness Matrix Group Inc is a United States based company that develops and implements the technologies available to provide healthcare and access to the data storage and records security to customers.

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Stocks That Hit 52-Week Lows On Tuesday

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Stocks That Broke Yearly Lows Tuesday Morning

WELLNESS MATRIX GRP INC by Wellness Matrix Group, Inc.

Wellness Matrix Group Inc

B of A Securities analyst Ken Hoexter maintains Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) with a Buy and lowers the price target from $273 to $270.

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B of A Securities Maintains Buy on Union Pacific, Lowers Price Target to $270

B of A Securities analyst Jason Gerberry maintains Biohaven (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NYSE">BHVN</a>) with a Buy and raises the price target from $52 to $62.

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B of A Securities Maintains Buy on Biohaven, Raises Price Target to $62

The Federal Reserve started the new rate cycle era last week, infusing strong optimism in various areas of the global markets and commodities. Wall Street has been hovering around a 52-week high. While the gains were broad-based, some areas were the biggest gainers and hit a 52-week high each on Sept. 20, 2024. We have highlighted three ETF areas that came to the forefront due to the Fed-induced rally.
<h2>Inside the Latest Fed Rate Cut</h2>
On Wednesday, the Fed announced a 50-basis-point cut in interest rates, marking its first reduction since March 2020. The new benchmark policy rate now stands between 4.75% and 5.00%. The rate cut was widely anticipated, though there was uncertainty over its size. A 25-basis-point reduction was expected by many, but softer-than-expected economic data led to calls for a larger cut. Ultimately, the Fed opted for the half-percentage-point reduction.
<h2>Further Rate Cuts Expected by Year-End</h2>
The Federal Open Market Committee&#39;s (FOMC) &quot;dot plot&quot; of individual officials&#39; projections indicates the possibility of another 50 basis points of cuts by the end of the year, aligning with market expectations. The committee also forecasts an additional percentage point of cuts by 2025 and another half-point cut by 2026, eventually reducing the benchmark rate by 2 percentage points.
Against this backdrop, below we highlight a few winning exchange-traded funds areas.
<h2>Winning ETF Sectors</h2>
<h2>Utilities ETF</h2>
The Utility sector tends to be stable and provides consistent dividends. This sector also performs better in a low-rate environment. Virtus Reaves Utilities ETF (ARCA:UTES), S&amp;P 500 Utilities Sector SPDR (ARCA:XLU) and Fidelity Utilities MSCI ETF (ARCA:FUTY) are the utilities ETFs that hit a 52-week high on Sept. 20, 2024.
<h2>India ETF</h2>
India ETFs are also hitting highs. Franklin India ETF (ARCA:FLIN), India Internet &amp; Ecommerce ETF (ARCA:INQQ), First Trust India Nifty 50 Equal Weight ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nfty#NASDAQ">NFTY</a>) and Columbia India Consumer ETF (ARCA:INCO), probably saw a spike on the likelihood of a falling U.S. dollar.
India&#39;s potential for growth makes it an attractive choice for investors. Recent upgrades in growth forecasts for the country, driven by robust public investment and strong private consumption, have boosted the prospects for these ETFs.
Consumers in India are expected to increase their spending on both essential and non-essential items per the country&#39;s central bank, a trend likely to continue over the next year. The forecasted rise in consumer consumption in the upcoming festive season is a tailwind.
<h2>Gold ETF</h2>
Gold bullion ETFs like iShares Gold Trust Micro (ARCA:IAUM), GraniteShares Gold Trust Shares (ARCA:BAR), Vaneck Merk Gold ETF (ARCA:OUNZ) and Physical Gold ETF (ARCA:SGOL) have hit a 52-week high lately. As the Fed eased its policy, the greenback lost strength and bond yields fell. Both factors should go in favor of gold investing.
<a href="https://www.zacks.com/stock/news/2340099/3-etf-sectors-hitting-52-week-highs-after-fed-rate-cut?cid=CS-BENZ-FT-etf_news_and_commentary-2340099">To read this article on Zacks.com click here.</a>

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3 ETF Sectors Hitting 52-Week Highs After Fed Rate Cut

Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">relatively flat on Tuesday.</a>
The Hollywood Reporter <a target="_blank" href="https://www.hollywoodreporter.com/business/business-news/paramount-layoffs-cuts-phase-two-1236010510/" rel="noreferrer noopener">reported</a> that the company is executing another significant round of layoffs on Tuesday.
In a memo to employees on Tuesday morning, the co-CEOs indicated that the company would begin the second phase of workforce reductions that day, expecting to complete 90% of the cuts by day&#8217;s end.
The report noted that CBS News is among the affected divisions, with the IBEW union stating that its members have been involved in producing CBS broadcasts since before television existed, making the layoffs particularly difficult to accept.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/08/40345222/paramount-to-cut-2-000-jobs-in-major-restructuring-move-report" rel="noreferrer noopener">Paramount To Cut 2,000 Jobs In Major Restructuring Move: Report</a>
The initiative is part of a broader effort by the owner of CBS, Comedy Central, and MTV to cut expenses during a challenging time for traditional media firms, Variety <a target="_blank" href="https://variety.com/2024/tv/news/paramount-global-layoffs-phase-two-1236154272/" rel="noreferrer noopener">reported</a>.
As a result of the layoffs, the company anticipates a restructuring charge of $300 million to $400 million in the third quarter, per the report.
According to the memo, Paramount is working to accelerate streaming profitability while adjusting to the evolving landscape in its traditional businesses.
In its recently reported second-quarter results, the company&#8217;s co-CEOs said, &#8220;we will continue to aggressively execute on our Strategic Plan which focuses on transforming streaming to accelerate profitability, streamlining our organization — including at least $500 million in annualized cost savings — and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40268265/paramount-global-q2-earnings-highlights-studio-posts-revenue-miss-dtc-segment-up-13-closing-date-fo" rel="noreferrer noopener">improving the balance sheet by growing free cash flow.&#8221;</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, PARA stock has lost over 17% in the past year. Investors can gain exposure to the stock via Invesco S&amp;P 500 Equal Weight Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSPC#NYSE">RSPC</a>) and&nbsp;Invesco S&amp;P 500 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPV#NYSE">RPV</a>).
Price Action: PARA shares are trading higher by 0.58% to $10.44 at last check Tuesday.
Image via Shutterstock
Read Also:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39698201/analyst-sizes-up-paramounts-risk-reward-post-skydance-merger-we-think-shares-are-wo" target="_blank" rel="noreferrer noopener">Paramount Analyst On Risk-Reward After Skydance Merger: &#8216;We Think Shares Are Worth A Shot At The Current Price&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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What's Going On With Paramount Global Stock After Revealing Massive Layoff Plans?

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Wellness Matrix Group (OTC:WMGR) Stock, Quote.Headers.trade-ideas