Shares of artificial intelligence beneficiaries (NASDAQ: GOOG) (NASDAQ: GOOGL), C3.ai (NYSE: AI), and MongoDB (NASDAQ: MDB) were all rallying on Tuesday, up 2.7%, 5.8%, and 3.5%, respectively, as of 2:57 p.m. ET.

Today, Alphabet held its Google Cloud Next conference, and announced several new AI features and partnerships.

However, Alphabet and the other two stocks were likely helped even more by new macroeconomic data. This morning, the July JOLTS data came in softer than expected, boosting hopes the Federal Reserve might be done hiking interest rates without having caused a recession.

Continue reading

Source Fool.com