The Federal Reserve granted the market its wish and lowered its benchmark federal funds rate by 50 basis points.

This is another market dynamic that depends on how fast the Fed is cutting rates,” the report said. Based on analysis from Ned Davis Research, cyclicals have often done best

Eric Diton, president and managing director of The Wealth Alliance, said that the Fed's announcement of a 50-basis-point rate cut should prompt investors to seek lucrative gains through long-term fixed-income securities.