New U.S. inflation data is augmenting tech stocks listed on American exchanges, helping shares of cloud companies reach prices they haven’t been close to for nearly a year.
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The new numbers on inflation indicate that the American central bank could soon halt its series of aggressive interest rate hikes, and if that causes interest rates to level off, it could spur investors to pivot their focus back towards tech shares. Given how far tech valuations have fallen in the past couple of years, any recovery feels welcome.
