Stocks Soar as Inflation Seems to Slow Down

The stock market had its biggest rally in two years on Thursday due to lighter-than-expected inflation data. This boosted investors’ hopes that inflation has peaked and the Federal Reserve may slow down the pace of interest rate hikes.

Overall, S&P 500 grew 5.5% to 3,956, while NASDAQ jumped 7.4% to 11,114.

Tweet of the Day

Chart of the Day

Our char of the day is the one-year chart of Enphase (ENPH) as of October 29, 2022, when the stock was at $305.

Enphase Energy is a global energy technology company that designs, manufacture, and sell solar energy solutions to homeowners and commercial owners.

The company is one of the fastest growing publicly traded companies in America, as its solar energy components are in high demand.

Last qtr, ENPH delivered 108% profit growth on 81% revenue growth. US sales increased 69% and Europe jumped 136%. Enphase is significantly ramping up its presence in Europe in the coming months and years.

ENPH is part of the Growth Portfolio. David Sharek’s Fair Value P/E stays at 65 this qtr.

Not a member? Sign up here for $25 a month.