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AndreyKrav / iStock Editorial via Getty Images 2023 has been a much better year than 2022, as all major indices are higher. The tech-heavy Nasdaq is up a whopping 32.5%, while the venerable S&P 500 is up 15.36% and the Dow Jones Industrial just 3.5%, but it hasn’t felt like a bull market, at least not yet. That could all change after the October consumer price index came in below estimates, and the year-over-year inflation rate has tumbled from 9.1% in June of 2022 to 3.2% in October as gasoline and used car prices dropped. The core inflation figure, which strips out the volatile food and energy components, climbed 4% over last year and 0.2% month-over-month. All of the inflation figures came in below Wall Street estimates. The hope across Wall Street is that the Federal Reserve is done raising interest rates, and if this trend stays in place, they may conclude with one final increase in December or announce they are done. If that happens, expect the stock market to take off into a new bull market run. We screened our 24/7 Wall St. growth stock database, looking for the top stocks that will run in a bull […]
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