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Also in August, the consumer price index (CPI) increased 5.3% from a year earlier and 0.3% from July, which was a lower increase than was expected. In addition, during the Federal Reserve’s recent annual Jackson Hole economic symposium, Fed Chair Jerome Powell reiterated that high inflation is temporary. With these factors buoying investors, quality stocks trading at affordable prices could be wise bets now.
Fundamentally sound stocks Telefonaktiebolaget LM Ericsson (BS:ERICAs) (publ) (ERIC), Telefónica, S.A. (TEF), and CNH Industrial N.V. (CNHI) are currently trading below $20 per share and look undervalued considering their growth prospects. So, we think it could be wise to scoop up their shares now.
