Although inflation cooled off slightly, worries over an impending recession linger amid banking sector chaos. This has weighed heavily on investor sentiments, and the market is anticipated to remain volatile in the upcoming months.
Given this backdrop, let us explore some mid-cap stocks such as Jazz Pharmaceuticals plc (JAZZ), which might be a wise choice now, while Valvoline Inc. (VVV) and Axos Financial, Inc. (AX) could be avoided for the reasons mentioned in the article.
According to the Bureau of Labor Statistics, the U.S. Consumer Price Index (CPI) rose 0.1% in March, down from 0.4% in the previous month. On a year-over-year basis, CPI increased by 5%. However, core inflation increased by 0.4% in March and 5.6% year-over-year, matching economists’ expectations.
Since inflation remains well above the Fed’s target range of 2%, a rate hike in the upcoming meeting remains probable. Anthony Saglimbene, the chief market strategist at Ameriprise Financial in Troy, Michigan, said, “But from the market’s perspective, it might be getting ahead of itself because I don’t think the Fed will be cutting rates this year.”
In addition, CME Group’s FedWatch Tool showed that the probability of a…
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