While Airbnb Inc (NASDAQ:ABNB) CEO Brian Chesky may rank among the world's richest people, that status took a bit of a beating recently. Much of his net worth — standing at around $10 billion — is largely tied to his stake in ABNB stock. Of course, the equity took a hit recently, declining about 8% in the trailing month. Nevertheless, underlying sentiment may have received a critical lifeline.
Specifically, JP Morgan and Goldman Sachs have realigned their interest rate outlooks, with the financial giants now forecasting the Federal Reserve will deliver a quarter-point cut after its Dec. 9-10 meeting. What's more, traders are now pricing in a probability of 84.7% that the central bank will go through with the accommodative move. This is essentially a 180 within a matter of days, when the odds of a rate cut were as low as 25%.
