Could an improving economy and lower rates help EV companies get out of their rut?
Shares of high-volatility stocks and companies that could benefit from lower interest rates had a great day today as the market anticipates a September rate cut by the Federal Reserve. Not only could interest rates be down, but there are signs the economy won’t go into too deep of a recession if there is one at all.
Shares of Tesla (TSLA 5.24%) jumped as much as 5.6% today, Lucid (LCID 5.86%) popped 6.2%, and Quantumscape (QS 6.08%) was up 6.4%. Shares closed the day up 5.4%, 5.9%, and 6.3%, respectively.
Inflation and interest rates
A wholesale inflation measure called the producer price index (PPI) was released today and showed a 0.1% increase in July, below the 0.2% forecast. PPI was up just 2.2% from a year ago, which was down sharply from the 2.7% increase in June.
This is being watched closely because the consumer price index (CPI), a key…
