The much-awaited consumer price index (CPI) reading came out last Wednesday, showing monthly inflation increasing by 0.2% in August, in line with the consensus estimate after rising by a similar margin in July. This somewhat dented investors’ sentiment as many had been expecting a 50-basis point rate cut by the Fed in its September policy meeting.
However, the annual inflation rate fell to its lowest level since early 2021, which is being seen as positive news ahead of the rate cuts. Growth assets like tech stocks stand to benefit from lower interest rates. Given this situation, investing in the following mega-cap tech stocks will be an ideal choice.
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