Why Good Inflation News Has Upstart, SoFi, and Ally Shares Rising Today
The market zoomed higher this morning after a better-than-expected inflation report showed that consumer prices finally might be easing. Bond yields dipped and the Dow Jones Industrial Average had jumped more than 880 points as of this writing, while the Nasdaq Composite was up nearly 5.6%.
Shares of Upstart Holdings (NASDAQ: UPST), the lender powered by artificial intelligence (AI), traded more than 17% higher as of 10:50 a.m. ET today.
The stock of the one-stop-shop financial services company SoFi Technologies (NASDAQ: SOFI) was more than 8% higher, and the digital consumer bank Ally Financial (NYSE: ALLY) was up more than 15%.
Source Fool.com
