Why Shopify Stock Jumped Again Today
After soaring roughly 18% in Thursday's trading, shares of Shopify (NYSE: SHOP) surged again Friday amid continued bullish momentum for the broader market. The e-commerce services company ended today's daily session up roughly 8%. Meanwhile, levels for the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average indexes closed out the day up roughly 0.9%, 1.9%, and 0.1%, respectively.
The recent surge in bullish momentum for Shopify stock was kicked off by inflation data published Thursday that could signal an easing of bearish market pressures. The U.S. Labor Department's consumer price index (CPI) tracking for October showed inflation rising 0.4% sequentially and 7.7% year over year, which came in below expectations for a 0.6% sequential and a 7.9% year-over-year increase.
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Source Fool.com
