SoFi Technologies Inc (NASDAQ:SOFI) shares are trading higher Monday, hitting a new 52-week high as Wall Street extended record gains, with investors positioning ahead of this week's key Federal Reserve meeting. Optimism is building that policymakers could deliver a potential 25-basis-point rate cut, lowering the federal funds rate to 4.00%–4.25%.
What To Know: Markets are also pricing in a high likelihood of additional cuts at the Fed's October and December meetings, even as inflation remains sticky at 2.9% in August, the highest level since January. At the same time, jobless claims spiked to 263,000, their worst print since 2021, signaling strains in the labor market.
