Tech Stocks Surge on Fed Rate Cut Hopes

Tech Stocks Surge on Feds Rate Cut Hints: Domo, Marqeta, The Trade Desk, Commvault, and Shopify GainThe tech sector experienced a significant boost today, with several prominent stocks, including Domo, Marqeta, The Trade Desk, Commvault, and Shopify, seeing substantial increases in trading. This upward trend was sparked by encouraging comments from a key Federal Reserve official, John Williams, who suggested theres room for further easing of monetary policy. This news led to a jump in the probability of a December rate cut and caused Treasury yields to fall, benefiting growth-oriented sectors like software. Among the companies that saw gains, Shopify, despite its volatility, also experienced a significant increase, reflecting the markets positive response to the news.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.