Why Snowflake, Datadog, and HubSpot Are Rallying Today
Shares of high-growth but no-profit tech stocks are surging higher today, with investor favorites Snowflake (NYSE: SNOW), Datadog (NASDAQ: DDOG), and HubSpot (NYSE: HUBS) rallying 7.7%, 7.1%, and 6.7%, respectively, as of 1:38 p.m. EST.
There wasn't much in the way of company-specific news today. However, high-growth stocks with current operating losses have proven to be extremely sensitive to the interest-rate and inflation picture over the past year.
Not only did these stocks surge following Fed Chair Jay Powell's press conference late yesterday, but another economic report on labor productivity this morning added to the massive surge of optimism that the post-pandemic inflation spike is over, with rate-sensitive stocks across tech, financials, and consumer discretionary stocks all rallying today.
Source Fool.com
