Upstart, Robinhood, and Opendoor Are All Spiking on Wednesday -- Here's Why They Could Go Even Higher

The stock market was having a generally strong day on Wednesday, with the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) up by 1.7% and 2.3%, respectively, as of 10:30 a.m. ET. However, several financial technology, or fintech, stocks were spiking much higher.Lending technology platform Upstart (NASDAQ: UPST) was higher by 12%, innovative brokerage app provider Robinhood (NASDAQ: HOOD) gained nearly 10%, and real estate technology platform Opendoor (NASDAQ: OPEN) was up by as much as 13% for the day. And there are good reasons behind all three moves.On Wednesday, we got the latest official look at Consumer Price Index (CPI) inflation data. Core CPI, which excludes volatile food and energy prices, came in at 3.2% year over year, which was better than the 3.3% economists had been expecting. On a monthly basis, core CPI increased by 0.2%, which was also one-tenth of a percentage point lower than expected.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool