"The CPI report confirms that inflation fears and data hold," says Dory Wiley. He believes that this keeps the Fed on track to raise rates 2 to 3 times next year. Also, he expects banks to continue to perform well with rising rates, margin help, and multiple expansion as they are 60% of the S&P PE Multiple. On that note, his stock picks are WBA, CMA, and PBCT. WBA stock price is up almost 20% year-to-date. CMA stock price is up over 52% year-to-date. Finally, the PBCT stock price is up around 37% year-to-date.
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