Why C3.ai Stock Is Gaining Today
C3.ai (NYSE: AI) is gaining ground in Thursday's trading. The company's share price was up 4.7% as of 3:30 p.m. ET. Meanwhile, the S 500 index was flat in the daily session, and the Nasdaq Composite index was up 0.1%.
C3.ai stock is posting gains today in conjunction with bullish momentum for speculative artificial intelligence (AI) stocks. The company's share price could also be getting a lift from news that Palantir is aiming to form a consortium to challenge traditional players in the defense industry.
At its policy meeting last week, the Federal Reserve announced another 25 basis-point cut for interest rates -- a move that was largely in line with the market's expectations. But Fed Chair Jerome Powell also indicated that the central banking authority now expects to serve up only two rate cuts on that level next year -- down from its previous forecast suggesting four rate cuts of 25 basis points next year.
Source Fool.com
