BofA Global Research was the only major brokerage to raise its forecast for the Federal Reserve's anticipated interest-rate cuts for the rest of 2024, a day after the U.S. central bank delivered an outsized cut.

The U.S. large-cap sector was the key driver, attracting $26.2 billion. Notably, value stocks posted their largest inflow since December 2023 at $4.2 billion, while small-cap stocks saw inflows of $3.9 billion. Growth stocks followed with $1.9 billion in inflows.

BofA Global Research was the only major brokerage to raise its forecast for the Federal Reserve's anticipated interest-rate cuts for the rest of 2024, a day after the U.S. central bank delivered an outsized cut.

The Federal Reserve cut interest rates Wednesday by half a percentage point, an unusually large move and a clear signal that central bankers think they are winning.

U.S. stock index futures surged on Thursday, with those tracking the Nasdaq climbing nearly 2% following the Federal Reserve's move to start its easing cycle with a half a percentage point cut, aiding a soft landing for the world's biggest economy.