Installed Building Products (IBP) Surges 7.9%: Is This an Indication of Further Gains?

The positive inflation report on Jul 11, 2024, most likely induced bullish sentiments among investors. The Bureau of Labor Statistics revealed that the Consumer Price Index (CPI) for June 2024 increased by 3% yearon-year, the lowest level in over three years. Furthermore, this better-than-expected figure suggests the Federal Reserve may start cutting rates this year, moving closer to the 2% target. While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, ...