Why Shopify, CrowdStrike, and Atlassian Stocks All Rallied on Tuesday
A broad cross-section of stocks initially roared higher on Wednesday as market watchers fixated on the Federal Reserve Bank's ongoing battle to cool persistent inflation. The latest U.S. government data showed that inflation cooled somewhat last month, which could convince the Fed to alter the pace and tenor of its campaign of interest rate hikes, which are designed to control rising prices. The rally seemed to lose steam as the morning wore on, but a number of technology stocks held on to their gains.
With that as a backdrop, (NYSE: SHOP) had jumped 6.6%, (NASDAQ: CRWD) had climbed 4.7%, and (NASDAQ: TEAM) had risen 2% at 11:15 a.m. ET.
A couple of company-specific pieces of news helped fuel the rally, but most investors were focused on the improving economic outlook.
Source Fool.com
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