Enviri on the Rise: Inflation Data Fuels Stock Market Activity

The steel and waste management corporation Enviri enjoyed a 3.5% rise in share price during afternoon trading after key inflation data was released in line with forecasts. The optimistic expectation that the Federal Reserve might continue to cut interest rates created positive sentiment among investors. The personal consumption expenditures (PCE) price index, the US central bank's preferred measure of inflation, showed a slight increase in August compared to the previous year, but remained within economists' expectations. This news provided relief on Wall Street, as it indicates that inflationary pressure remains contained. This gives the Federal Reserve more leeway for its loose monetary policy without the risk of uncontrolled inflation. This positive outlook helped major indices recover some losses from a recent three-day downturn, with shares rising across various sectors. After an initial jump in price, Enviri shares consolidated at $12.27, marking a 2% increase compared to the previous closing price. Is now the right time to buy Enviri? Enviri's shares exhibited significant volatility over the past year, with 23 movements of more than 5%. In this context, today's increase is seen as significant but not business-changing. Eleven months ago, the stock experienced its largest decline of 19.9% when weak third-quarter results were announced. Since the beginning of the year, Enviri has recorded a 48% increase in value and is trading at $12.27, close to its 52-week high of $12.51. An investment of $1,000 in Enviri five years ago would be worth $878.31 today.