The stock market has witnessed significant volatility of late on concerns over the prospect of progressive rate hikes and other macro uncertainties. However, this has led several fundamentally strong stocks to trade at affordable prices. Thus, I wanted to bring to your notice the upside potential of quality stocks Pfizer Inc. (PFE), McDonald’s Corporation (MCD), and United Microelectronics Corporation (UMC), which are trading at discounts to their peers.
Inflation rose 0.5% month-over-month in January, the highest in three months. A tight labor market contributed to upward pressures on wages and prices. On the other hand, despite rising inflationary pressures, retail sales surged by 3% in January, the biggest increase since March 2021. Amid a recent string of hot economic data, Fed warned of more interest rate hikes.
