As inflation cools, some stocks are poised to get a boost, according to an analysis from Bank of America.
Certain stocks are poised to gain the most if high inflation is past its peak, according to analysts from the Bank of America. The November consumer price index report showed that prices rose less than expected during the month, signaling that inflation is cooling and may have already peaked. Stocks jumped on the news, with the S & P 500 up more than 2.7% and the Dow Jones Industrial Average surging by as much as 700 points before sharply trimming gains.
The top stocks on the list include several consumer discretionary names such as Amazon and Best Buy , where consumers may spend more as price increases slow. Even though the technology sector in particular has been hit this year amid rising rates and high inflation, Citi and Goldman Sachs both see upside in the industry going forward. Both firms named Amazon as one of their top picks for 2023.
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