AI - Why Alphabet C3.ai and MongoDB Rallied Today
2023-08-29 15:12:59 ET
Shares of artificial intelligence beneficiaries Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) , C3.ai (NYSE: AI) , and MongoDB (NASDAQ: MDB) were all rallying on Tuesday, up 2.7%, 5.8%, and 3.5%, respectively, as of 2:57 p.m. ET.
Today, Alphabet held its Google Cloud Next conference, and announced several new AI features and partnerships.
However, Alphabet and the other two stocks were likely helped even more by new macroeconomic data. This morning, the July JOLTS data came in softer than expected, boosting hopes the Federal Reserve might be done hiking interest rates without having caused a recession.
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Why Alphabet, C3.ai, and MongoDB Rallied Today