Shares of large tech companies, including Nvidia (NASDAQ:NVDA), Shopify (NYSE:SHOP)(TSE:SHOP), Amazon (NASDAQ:AMZN), and Microsoft (NASDAQ:MSFT) closed higher on November 23, after the minutes from the Fed’s latest meeting indicated that most officials see smaller rate hikes in the future. The easing of macro headwinds sets the ground for a recovery in tech stocks. This is a positive signal for tech stocks, which lost substantial value in 2022 due to rising interest rates that drove up the cost of capital and lowered their valuations.  Another positive catalyst is the continued moderation of inflation. While inflation remains high, its growth rate has consistently decreased after peaking in June.
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Shopify (NYSE:SHOP)
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