Why Amazon, Nvidia, and Meta Platforms Are Climbing Higher Today
The broader market was rebounding this morning, following last week's massive sell-off, and that helped boost the share prices of many tech stocks today. The result was Amazon (NASDAQ: AMZN) gained 3.8%, Nvidia (NASDAQ: NVDA) was up by 6.5%, and Meta Platforms (NASDAQ: META) jumped by as much as 2.5% and had gained 0.7% as of 11:07 a.m. ET.
Investors appeared to be regaining some optimism that the market could be near the bottom and began buying up shares of some tech stocks again.
Stocks plummeted last week after the Federal Reserve raised the federal funds rate by 75 basis points, the highest rate hike since 1994. While investors processed that increase, they also anticipated another rate increase of the same amount would occur at the Federal Reserve's next meeting in July.
Source Fool.com
