Shares of Ingram Micro (NYSE:INGM) rose 2.7% after comments from a key Federal Reserve official hinted at a potential interest rate cut in December. John Williams, president of the Federal Reserve Bank of New York, expressed openness to lowering the fed funds rate to support the job market, leading to optimism in the markets. The shares closed at $20.61, up 2.5% from the previous close. Investors are cautious amid a market rotation out of tech stocks due to concerns about valuations and the end of the government shutdown. Ingram Micro is up 4.1% year-to-date but still trading 16.5% below its 52-week high.

Read more at Barchart: Ingram Micro (INGM) Stock Is Up, What You Need To Know