Palantir Technologies Inc PLTR shares are trading higher Tuesday amid a drop in yields.
Treasury yields are falling amid economic growth concerns. The Federal Reserve is in the midst of what is expected to be its most aggressive tightening cycle in more than 40 years as the central bank attempts to tame runaway inflation. Investors continue to worry about rising inflation and the potential for higher rates to cause a recession.
However, lower rates increase the present value of future cash flows, which can positively impact the valuations of growth stocks. The 10-Year Treasury yield was hovering around 2.815% at press time.
FOMC minutes from the latest Fed policy meeting are scheduled to be released on Wednesday.
Palantir provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.
PLTR Price Action: Palantir has a 52-week high of $29.29 and a 52-week low of $6.44.
The stock was up 7.82% at $10.01 at press time, according to data from Benzinga Pro.
Photo: Cory Doctorow from Flickr.
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