Bill Com Holdings IncSoft PPI data eased inflation fears, reducing Treasury yields and boosting growth stocks like BILL.
Shares of BILL, Marqeta, and Upland Software surged in afternoon trading after a softer-than-expected Producer Price Index report eased inflation fears and lifted growth stocks. June wholesale inflation fell 0.3% versus expectations for a flat reading, following a sharp 0.4% decline in consumer prices the prior session, which reduced Treasury yields and provided a valuation boost to companies reliant on future cash flows. BILL jumped 7.4%, Marqeta gained 6.4%, and Upland Software rose 9.5%, with Upland Software reaching a new 52-week high of $5.57 per share and extending its year-to-date gain to 271%. The rally countered concerns sparked a day earlier by IBM's warning that clients are reprioritizing capital expenditures toward AI servers and high-bandwidth memory, squeezing software budgets.
Bill Com Holdings IncSoft PPI data eased inflation fears, reducing Treasury yields and boosting growth stocks like BILL.
Soft PPI data eased inflation fears, reducing Treasury yields and boosting growth stocks like Marqeta.
Upland Software IncSoft PPI data eased inflation fears, reducing Treasury yields and boosting growth stocks like Upland Software.
International Business MachinesIBM warned that clients are reprioritizing capex toward AI servers, squeezing software budgets.