Sandisk, Bloom Energy and 8 Other Stocks Rallied After the CPI Report: Here’s Why
July CPI eased to 3.4%, reducing pressure on the Fed to hike rates in September and reviving risk appetite across tech stocks.
Inflation (rising prices) cooled down a bit, which means the Fed might not raise interest rates as much, so people felt braver buying tech stocks again. When people worry less about money getting expensive, they're willing to invest in riskier companies.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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