The hope is that the Federal Reserve is coming close to wrapping up its inflation-fighting campaign, and that tech, the group that’s suffered the most from interest-rate hikes, will recover. The prospect, while still not imminent, came a step closer to reality Friday when the latestreport showed a deceleration in wage growth, which the Fed is looking for as a sign of progress in its inflation battle. Perhaps not surprisingly, the tech-heavy Nasdaq 100 Index had its best day since Nov. 30.
“Ultimately, if the Fed gets inflation under control, tech has a chance to be the market leader, but the Fed is still in play for at least another six to eight months,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.has ordered “Investors are either dealing with uncertainty around inflation, or they’re dealing with anxiety about growth, and in either case it’s a lose-lose situation for tech megacaps,” said Zaccarelli.
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