The rate cuts are in — and the CE 100 Index has taken note.
This past week, the Federal Reserve cut its benchmark Fed Funds rate by 0.5% — the first such move in four years.
And as is always the case when the central bank cuts rates, especially at this magnitude, a number of different debt “products” see their own interest rates reset (lower, that is). Mortgage rates, though volatile, have been inching lower into the waning days of September – having moved lower in anticipation (to around 6%+, levels not seen in about a year and a half) of the Fed’s decision, and mortgage applications have been moving higher.
Against that backdrop, and in a week that saw all pillars of the CE 100 Index move higher, and the Index itself gained 2.7%, the live segment was 5.6% higher.
Porch Group was 24.4% higher, and Zillow’s 12.3% surge propelled the Live segment of the CE 100 ahead. The platforms are tied to the real estate market. Porch provides support and services to home inspectors and mortgage companies that would presumably see an uptake in their own businesses as home-buying activity increases. Zillow, of course, operates as a real estate platform for renting and buying homes and apartments.
CrowdStrike’s 15.7% gain was a standout in the Work pillar, which gained 2.6%. As reported this past week, CrowdStrike has launched a wholly owned subsidiary that will provide tailored financing solutions for its CrowdStrike Falcon cybersecurity platform. The new CrowdStrike Financial Services aims to facilitate customers’ access to the cybersecurity solution, the company said.
CrowdStrike Financial Services offers in-house financing with easy-to-understand terms; flexible payments in the form of monthly, quarterly, annual, skip, step and customizable payment structures; and hands-on customer service from financial professionals during the product acquisition and throughout the financial agreement, per the announcement.
Within the Pay and Be Paid pillar of the CE 100 Index, which was up 3.4%, PayPal shares rocketed ahead 9.5%. PYMNTS reported this week that Amazon has launched a new integration with PayPal amid a surge in Buy with Prime use. The eCommerce giant revealed several enhancements to its merchant and shopper offerings at its Accelerate seller conference.
Among the enhancements, participating brands using the Buy with Prime API can now offer PayPal at checkout once shoppers log in to their Amazon account.
Amazon, which saw its shares gain 2.7% (in the Enablers segment, which was 0.8% ahead in the week), also had been a focus of PYMNTS’ coverage this past week at its annual Accelerate conference. “Most of the sellers interviewed on site by PYMNTS were relieved that the Fed finally took action,” PYMNTS wrote. “But they were looking for more immediate relief than a gradual drawdown of interest rates would provide,” we reported, and for the most part, they weren’t rushing to access any new funding anytime soon.
At the event, as we reported, Amazon introduced new AI applications, from the personal AI assistant Project Amelia to upgrades for AI-powered tools like Rufus that help customers make better shopping choices and analytics tools to help sellers understand why items get returned.
Airbnb shares gathered 11.4% and helped take the Move segment 1.8% higher. With some cities suffering housing shortages, as detailed this week, Airbnb is eyeing long-term stays. The vacation rental company is focused on expanding its long-term rental business, meaning stays of 28 days or more, CEO Brian Chesky said at a travel conference this past week.
But tempering those “Move segment” gains was the 11% drop in FedEx shares. As reported here, first-quarter 2025 earnings, as reported this week, showed a decline in weight per shipment, reduced priority shipments and one fewer operating day as reasons for the decreased results during the quarter; profits declined and the company revised its fiscal 2025 revenue and earnings forecasts downward for its revenue growth rate year over year to a low single-digit percentage, compared to the prior forecast of a low-to-mid single-digit percentage increase.