3 Resilient Artificial Intelligence (AI) Stocks That Did Well the Last Time the Fed Raised Interest Rates
When the Fed last raised interest rates in July 2023, these stocks all soared more than 65% in the following 12 months.
Overview
Interest rates could soon be on the rise. And with 2% inflation a key goal for the Federal Reserve, there's the worry that there could be multiple hikes in the near future.
It can be a concerning development for investors, as rate hikes could derail the stock market's strong rally. This year, the S&P 500 has hit record highs and is up around 11% -- although it has given back some gains recently amid the uncertainty about what lies ahead for the economy.
Details
Three tech stocks that did well the last time the Fed increased interest rates (back in July 2023) include Nvidia (NASDAQ:NVDA), Palantir Technologies (NASDAQ:PLTR), and Broadcom (NASDAQ:AVGO). Here's a look at why they did well despite the rate increases, and if they can be safe stocks to hide out in right now.
Source
Originally published at www.fool.com.