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Market won't broaden out until Fed cuts rates -strategist

STORY: Once the central bank begins cutting rates, "that will alleviate some of the stress on smaller companies," Hainlin said.

"There was speculation about Federal Reserve rate cuts [earlier in the year]," said Hainlin. "You saw this initial euphoria in small cap stocks, which then receded as you now start to recalibrate for the Federal Reserve only cutting perhaps one or two times this year."