Cincinnati Stocks Soar, Here’s Why
November 10, 2022
In the wake of a better than expected inflation report, shares of several Greater Cincinnati companies soared. The Cincinnati Business Courier follows an index of 23 locally based stocks that trade regularly on an exchange, and finds 20 companies rose a collective 4.1%.
Our Jim Russell tells reporter Steve Watkins, lower Consumer Price Index numbers may herald the reverse of inflationary trends this year.
“Both equities and bond prices have been under pressure in 2022 with inflation on the rise,” says Russell. “Today’s data, while early and not fully conclusive in terms of a sustained decline in inflation, is seen as constructive and early evidence that the interest rate increases implemented by the Federal Reserve are beginning to be effective. While inflation is likely to remain on the high side of recent history in the coming weeks and months, today’s data indicated a possible decline in inflation, perhaps reducing a headwind that has faced the capital markets so far in 2022.”
See the entire article HERE