From Stock Story:

1. Shares of MongoDB (MDB) surged by 6.3% following a lower than expected revised inflation reading for December 2023, signaling a potential rate cut by the Fed in 2024. The Nasdaq and S&P 500 also rallied, with positive earnings reports from tech giants such as Meta and Cloudflare, and the S&P 500 breaking past 5,000 for the first time.

2. MongoDB’s shares are volatile, and the market’s recent reaction to the news indicates it’s seen as meaningful but not fundamentally altering. The company is up by 30.6% since the beginning of the year.

3. It’s been a strong week for equities, with the S&P 500 hitting record highs and MongoDB’s shares surging after a positive earnings season for tech stocks.



Read more: Why MongoDB (MDB) Stock Is Up Today