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We recently published 10 Big Names Crushing the Market. Rocket Companies Inc. (NYSE:RKT) is one of the best-performing stocks on Friday.

Rocket Companies snapped two straight days of losses on Friday, adding 7.85 percent to close at $17.44 apiece as investor sentiment was bolstered by renewed hopes of an interest rate cut.

This followed optimistic comments from Federal Reserve Bank of New York President John Williams, saying that there is still a “room for further adjustment in the near term to the target range for the federal funds rate.”

Williams’ remarks came after Federal Reserve Chairman Jerome Powell’s signals earlier that a rate cut in December was not guaranteed.

Optimism spilled over to the broader real estate industry, including Rocket Companies Inc. (NYSE:RKT), with the sector highly sensitive to movements of interest rates. Any rate cut or increase would impact the affordability of homes, borrowing costs, and land acquisition and developments.

The US central bank’s monetary board is set to meet for their next Federal Open Market Committee meeting on December 9 and 10 to discuss their decision on interest rates.

In other developments, Rocket Companies Inc. (NYSE:RKT) announced improved earnings performance in the third quarter of the year, with net loss narrowing by 74 percent to $124 million from $481 million in the same period last year.

Revenues expanded by 148 percent to $1.605 billion from $647 million year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.