While the world digests the fact that FTX could be heading to zero, Elon Musk continues to make headlines with changes to Twitter policy — at times seemingly on the fly — and results from the U.S. midterm elections still trickling in, there could be some fair winds blowing for tech companies.
This morning, the United States released new inflation numbers, with CNBC reporting that the consumer price index, or CPI, was up 0.4% in October and up 7.7% from the same month one year ago. Given expectations of 0.6% and 7.9% expansion, respectively, the report counted as an unexpected bit of positive news.
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Why? Because if inflation is cooling, then the pace at which the U.S. Federal Reserve will raise interest rates may slow. Slower rate increases would shift the calculus for investors, making assets like stocks — and tech stocks in particular — more attractive, and more conservative investments less so on a relative basis.
As inflation slows, did we just see the bottom for tech stocks? by Alex Wilhelm originally published on TechCrunch
