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Why SVB Financial Stock Was Up 9.2% on Tuesday

TheMotleyFool

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Why SVB Financial Stock Was Up 9.2% on Tuesday: https://g.foolcdn.com/editorial/images/709561/a-person-at-a-desk-smiling.jpg

SVB Financial Group (NASDAQ: SIVB) saw its stock price finish the day up 9.2% on Tuesday, after jumping as high as 11.2% in early afternoon trading.

All three major indexes were up today, led by the Nasdaq Composite, which gained 1.5%.

There was a bit of volatility on the markets today, as a strong Producer Price Index (PPI) report for October spurred an early surge. The PPI was up 8% over the past 12 months, which was down from 8.5% in September. This beat economists' forecasts of an 8.3% gain in October. Also, the core PPI was at 6.7%, which was below the forecasted 7.2%.

Source Fool.com

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