Shares of software stocks are trading higher amid strength in tech ahead of this week's Fed decision. Investor hopes of a pause in rate hikes may be lifting growth sector sentiment.
Portfolio Pulse from Benzinga Newsdesk
Software stocks are trading higher as investors anticipate a pause in rate hikes ahead of this week's Fed decision, potentially lifting growth sector sentiment.
June 12, 2023 | 7:20 pm
News sentiment analysis
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POSITIVE IMPACT
Autodesk shares are trading higher amid strength in tech and investor hopes for a pause in rate hikes.
As a software stock, Autodesk is directly affected by the strength in the tech sector. A pause in rate hikes could lead to increased investor interest in growth sectors like tech, potentially driving ADSK's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Five9 shares are trading higher amid strength in tech and investor hopes for a pause in rate hikes.
As a software stock, Five9 is directly affected by the strength in the tech sector. A pause in rate hikes could lead to increased investor interest in growth sectors like tech, potentially driving FIVN's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
NICE shares are trading higher amid strength in tech and investor hopes for a pause in rate hikes.
As a software stock, NICE is directly affected by the strength in the tech sector. A pause in rate hikes could lead to increased investor interest in growth sectors like tech, potentially driving NICE's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Splunk shares are trading higher amid strength in tech and investor hopes for a pause in rate hikes.
As a software stock, Splunk is directly affected by the strength in the tech sector. A pause in rate hikes could lead to increased investor interest in growth sectors like tech, potentially driving SPLK's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ubiquiti shares are trading higher amid strength in tech and investor hopes for a pause in rate hikes.
As a software stock, Ubiquiti is directly affected by the strength in the tech sector. A pause in rate hikes could lead to increased investor interest in growth sectors like tech, potentially driving UI's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80