Tesla Inc (NASDAQ:TSLA), Nio Inc – ADR (NYSE:NIO) and Palantir Technologies Inc (NYSE:PLTR) shares are trading higher by 1.2%, 3% and 1.5%, respectively, after the Federal Reserve held rates constant but raised its inflation expectations for 2021-2023.
Seven Fed officials expect rate increases in 2022, while 13 expect rate increases in 2023.
Investors were watching for news on interest rates, as a near-term rise in rates could weigh on growth and technology stocks. Names in growth and technology are also trading higher Thursday in sympathy with the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) following Wednesday’s news.
