Summary: Fed may cut interest rate due to slowing job growth, benefiting MU, NVDA, VST.

From Nasdaq: 2024-07-08 14:45:00

Job growth in the U.S. slowed in June, pushing the unemployment rate up. This has raised expectations for a Federal Reserve interest rate cut soon. Tech stocks like MU and NVDA, along with utility player VST, look promising for investment as a result of the potential rate cut.

Inflation pressures seem to be easing as the Fed’s preferred inflation gauge remained steady in May. Gasoline price declines have also contributed to flat consumer price index. The possibility of a Federal Reserve rate cut is growing due to this easing inflationary environment.

With job growth cooling and consumer spending likely to decrease, tech stocks like MU and NVDA, as well as utility companies like VST, could benefit from a potential Federal Reserve rate cut. These companies have seen strong stock performance so far this year.



Read more at Nasdaq: Fed Rate Cut Odds Rise: MU, NVDA, VST Stock Price to Gain