Why Shares of Nu Holdings Rose Today
Shares of the Brazilian digital bank Nu Holdings (NYSE: NU) rose today along with many other tech stocks as investors took a break from their worries over inflation and future rate hikes. Nu Holdings rose 5.4%, and the Nasdaq Composite index ended the day 2.14% higher.
Oil prices and longer-term bond yields fell today, which is a sign that investors were a little bit less concerned about inflation, at least for today.
The move seemed to be at least partly triggered by comments from Lael Brainard, vice chair of the Federal Reserve, in a speech Wednesday.
Source Fool.com
