Why Did Circle Internet Stock (CRCL) Skyrocket Today?
Shares of Circle Internet (NYSE: CRCL) jumped on Thursday, finishing the day up 17.8%. The rise came as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.8% and 0.7%, respectively.
The latest Consumer Price Index (CPI) data was released this morning, showing inflation rose more than expected in August. The report was overshadowed, however, by weekly unemployment numbers not seen in nearly four years.
The Federal Reserve just got its final piece of data before next week's rate decision, and the numbers tell a conflicting story. August's CPI came in hotter than expected, but the Labor Department released its weekly report, showing jobless claims ticked up significantly more than economists expected, hitting their highest level since October 2021.
Source Fool.com
