Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

U.S. CPI print today makes Amazon stock more attractive: here’s why

S&P 500 opened up this morning after the Bureau of Labour Statistics reported inflation to have eased further in April.

Quincy Krosby reacts to the CPI report today

Versus a year ago, consumer prices were up 4.9% last month – 0.1% less than the Dow Jones estimate. Reacting to the CPI print, Quincy Krosby – the Chief Global Strategist of LPL Financial said:

Today’s report suggests that the Fed’s campaign to quell inflation is working, albeit more slowly than they would like. But for financial markets, today’s inflation print is a net positive.

For the month, headline inflation came in up 0.4% for March which was in line with the economists’ forecast.

At writing, the benchmark S&P 500 index is up more than 8.0% versus the start of the year.

Amazon stock has a negative correlation with inflation

Core inflation (excluding food and energy) was also in line with expectations last month at 0.4% up for the month and 5.5% versus March of 2022.

Also on Wednesday, Bank of America screened data going all the way back to 1975 and composed a list of S&P 500 companies that tend to outperform when consumer prices are trending down.

Coming in right at the top of that list was Inc (NASDAQ: AMZN) that has so far gained 27% this year as inflation continued to ease. The Wall Street firm sees further boost to demand on the back of declining prices.

Bank of America currently sees upside in Amazon shares to $139 – about a 30% upside from here.

The post U.S. CPI print today makes Amazon stock more attractive: here’s why appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...


    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023