What's Going On With Palantir Technologies Stock?

Palantir Technologies Inc PLTR shares are trading higher by 8.11% to $8.86 going into the close of Thursday's session. Shares of companies in the broader software sector are trading higher following strong earnings from Meta, which has driven a rotation into tech and growth names.

Additionally, Palantir Technologies Japan K.K. on Wednesday announced a $50 million, five-year expansion of its work with SOMPO Holdings and its group companies including SOMPO Japan, the company's insurance business.

Palantir says this expansion will enable the roll out of critical workflows across 10,000+ salespeople within SOMPO Japan, further developments of SOMPO's Real Data Platform, and many other critical growth opportunities across SOMPO Holdings.

What Happened With This Week's FOMC Meeting?

Wednesday's 0.25% rate hike brings the target fed funds rate to a new range between 4.5% and 4.75%, the highest levels seen since before the 2008 financial crisis.

The move was in line with average economist expectations and comes in the wake of a downshift from the Fed in December. At its last meeting, the central bank opted for a 0.5% hike, which was preceded by four straight 0.75% rate hikes...Read More

See Also: Federal Reserve Downshifts To 0.25%: Central Bank's Pace Of Interest Rate Hikes Slows With Inflation

PLTR has a 52-week high of $14.86 and a 52-week low of $5.84.