A Bull Market Is Coming: 2 Super Stocks Down by Over 85% You Will Wish You Had Bought on the Dip
The U.S. economy has proven quite resilient despite the Federal Reserve raising benchmark interest rates to the highest level in 22 years. The U.S. economy reported a 2.4% year-over-year growth rate in the April-to-June quarter.
However, high interest rates seem to have now started to slow the labor market, with the unemployment rate jumping from 3.5% in July 2023 to 3.8% in August 2023. By one measure, the CME FedWatch Tool, there is a 91% chance that the Fed will keep interest rates steady in September. This bodes well for U.S. equities.
In such a macroeconomic environment, if you are on the hunt for high-quality stocks that have seen a dramatic fall from their all-time highs, here's a look at two such companies.
Source Fool.com
