After a big move lower on Tuesday, the Nasdaq Composite (NASDAQINDEX: ^IXIC) struggled to regain its footing early Wednesday. Futures contracts on the Nasdaq were up about a quarter percent in premarket trading, barely making a dent in Tuesday's 2.5% drop. Still, investors are hopeful that a less hawkish tone in the minutes from the most recent meeting of the Federal Open Market Committee could bring a bit of solace after recent worries about rising rates.
Within the Nasdaq, a pair of tech stocks helped contribute to the more positive tone. Palo Alto Networks (NASDAQ: PANW) enjoyed a big boost as the cybersecurity stock proved the resilience of its business model in its most recent financial report. Meanwhile, Chinese internet search giant Baidu (NASDAQ: BIDU) kept wowing investors with its prospects for tapping artificial intelligence (AI) and jumping into the latest momentum trends.
Palo Alto Networks stock was sharply higher in premarket trading, rising 10% early Wednesday. The provider of cybersecurity services reported fiscal second-quarter financial results for the period ending Jan. 31 that showed continuing strength in the industry.
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These 2 Tech Stocks Could Reignite the Nasdaq's Bull Market