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Why Stoneco Stock Is Soaring Today

TheMotleyFool

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Shares of Stoneco (NASDAQ: STNE) are making big gains today. The Brazilian fintech's share price was up roughly 9.3% as of 2 p.m. ET Wednesday.

Officials from both Russia and Ukraine made comments today that pointed toward progress on negotiations that could end the war in Ukraine, and the development is creating positive momentum for stocks. Stoneco's share price also appears to be getting a boost from investor expectations that the Federal Reserve will take a relatively temperate approach to raising interest rates.

Image source: Getty Images.

Source Fool.com

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