From Nasdaq: 2024-06-20 07:54:00

Consumer price pressures eased in May, with a drop in gasoline prices offsetting a rise in shelter prices. The CPI remained flat last month, marking a 3.3% increase from a year ago. Core CPI also saw a decrease, signaling lower inflationary pressures. Producer prices unexpectedly dropped, indicating a potential slowdown in inflation.

The Federal Reserve is likely to maintain its cautious approach to interest rates, with expectations of a rate cut in September. Lower interest rates could benefit tech stocks like Alphabet Inc., NVIDIA Corporation, and Micron Technology, among others. Utility companies like Vistra Corp. and CenterPoint Energy may also see gains in a lower interest rate environment.

Alphabet, with a Zacks Rank #1, is a leader in technological innovation. NVIDIA, a Zacks Rank #1 company, is a global leader in visual computing technologies. Micron Technology, also with a Zacks Rank #1, is a top provider of semiconductor memory solutions. Vistra Corp. and CenterPoint Energy, with Zacks Ranks #1 and #2, respectively, offer electricity and power generation solutions.

Demand for clean hydrogen energy is projected to grow substantially in the coming years, making it a lucrative investment opportunity. Companies operating in this space stand to benefit from this trend. Investors can learn more about these emerging powerhouses and how to capitalize on the renewable energy wave by accessing a special report from Zacks Investment Research.



Read more at Nasdaq: Easing Inflation Paves Way for September Rate Cut: 5 Winners