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Tech & Media Stocks Soar On Slowing Inflation, Dow Up Nearly 900 Points

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Media shares joined the broader market Thursday in a major rally as data this morning showed inflation easing in October. Hard hit tech shares were led by a 10% jump by Amazon. Google parent Alphab…

Battered Warner Bros. Discovery, which hit a 52-week low yesterday, posting the lowest close since its merger, is up more than 5%. Paramount Global share have gained nearly 7%. Endeavor is up 6.2% ahead of earnings after the close. And

Giant theater chain AMC Entertainment, a meme stock still and subject to big swings, saw its shares surge nearly 20% with the exhibition stocks all higher. Inflation of 9.1% back in June was the highest in 40 years. To combat it, the U.S. Federal Reserve led by Jerome Powell has been hiking interest rates aggressively since March, risking recession, and the Fed chief has indicated it won’t stop without convincing evidence that inflation is coming down.

 

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