All else equal, a reduction in expected future interest rates should lead to

A. an upturn in the stock market, as estimate of future cash flows are revised upward

B. an upturn in the stock market, as future cash flows are discounted at lower rates

C. a downturn in the stock market, as estimates of future cash flows are revised downward

D. a downturn in the stock market, as future cash flows are discounted at higher rates

E. a downturn in the stock market, as future cash flows are discounted at a lower rates