Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why FAANG Stocks Alphabet, Meta Platforms, and Netflix Were Soaring Today

TheMotleyFool

0 0

Why FAANG Stocks Alphabet, Meta Platforms, and Netflix Were Soaring Today: https://g.foolcdn.com/editorial/images/708819/growth-stock-chart.jpg

FAANG stocks Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Meta Platforms (NASDAQ: META), and Netflix (NASDAQ: NFLX) jumped today after the October Consumer Price Index report showed inflation cooling off faster than expected.

According to the Bureau of Labor Statistics, consumer prices jumped 7.7% year over year in October, below expectations of 7.9%, and the October reading marked the slowest year-over-year growth rates since January. On a monthly basis, inflation was up 0.4%, below expectations of 0.6%.

Core inflation, which excludes more-volatile food and energy prices, was also lower than expected, rising just 0.3% from September and 6.3% over the last year.

Source Fool.com

Like: 0

GOOGL

Share