Benzinga - Shares of companies in the broader tech sector, including Advanced Micro Devices (NASDAQ:AMD), Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NASDAQ:NVDA), are trading higher during Tuesday's pre-market session as investors react to lower-than-expected November Core CPI data.
Fed monetary policy tightening could begin to taper off as inflation cools down, which would positively benefit growth stocks. Also, a decline in Treasury yields is positively impacting the sector.
What's Going On With CPI Data?
The headline CPI rose 7.1% in November, down from 7.7% in October, according to data from the U.S. Bureau of Labor Statistics.
The November CPI reading came in below average economist estimates of 7.3%.
Tuesday's highly anticipated CPI inflation reading comes just a day ahead of the Federal Reserve's final meeting of the year...Read More
According to data from Benzinga Pro:
- AMD is trading higher by 5.25% to $74.38
- NVDA is higher by 5.90% to $185.70