The Consumer Price Index (CPI) report was released today and it showed that inflation is starting to pick up. This news sent shockwaves through the stock market, with tech stocks taking the brunt of the losses. However, there were a few tech stocks that actually managed to outperform the market. Let’s take a look at what this report means for the tech sector and which stocks are worth keeping an eye on.
Inflation Mouseketeers
One of the most important factors in determining the direction of the stock market is inflation. When inflation is low, it means that businesses can continue to grow without having to worry about price increases. But when inflation starts to pick up, it becomes a major concern for businesses and investors alike. The reason for this is that when prices start to increase, it becomes harder for businesses to make a profit. This can lead to lower stock prices and even bankruptcies.
The most recent CPI report showed that inflation is starting to tick up. This news sent shockwaves through the stock market, with tech stocks taking the brunt of the losses. However, there were a few tech stocks that actually managed to outperform the market. Behemoths such as Meta Platforms(NASDAQ:META), Amazon(NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL)all jumped more than 4%, while Tesla shares added 1.6%. While these stocks may have weathered the storm better than most, it’s still too early to say whether or not they will be able to maintain their momentum.
Investors should also keep an eye on small-cap stocks that are focused on inflation-proof industries such as healthcare, technology, CBD and energy. Some of these stocks include iQstel(OTCQX: IQST), Precision Genomics(OTC:LUDG), MetAlert(OTC:MLRT), ClickStream(OTC: CLIS) and Endexx Corporation(OTC: EDXC). While these stocks may not be household names just yet, they could be big winners in an inflationary environment.
Conclusion:
The CPI report was released today and it showed that inflation is starting to pick up. This news sent shockwaves through the stock market, with tech stocks taking the brunt of the losses. However, there were a few tech stocks that actually managed to outperform the market. Behemoths such as Meta Platforms, Amazon and Alphabet all jumped more than 4%, while Tesla shares added 1.6%. These stocks may have weathered the storm better than most, but it’s still too early to say whether or not they will be able to maintain their momentum.
Featured: $META, $AMZN, $GOOGL, $IQST, $MLRT, $LUDG, $EDXC, $CLIS
