Friday was the long-awaited Jackson Hole meeting where Jerome Powell’s speech was followed word-for-word. The stock market was looking for signs and indications of what the future of inflation and rate hikes might look like for the rest of the year. Some suspected the last CPI data read signaled peak inflation. But that speculation was subdued with comments from the Federal Reserve Chairman today.
Powell’s speech at Jackson Hole could now set the tone for the next policy meeting for the Fed next month. As the market digests this news, traders are looking for opportunities to make money. Penny stocks are a clear stand-out as they tend to react differently than broader trends. What are the best to buy now? Today’s article looks at a handful of popular penny stocks to watch. They are also seeing some relative strength compared to broader markets before the end of August.
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