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Why Shopify Stock Was Climbing Today

TheMotleyFool

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Why Shopify Stock Was Climbing Today: https://g.foolcdn.com/editorial/images/822798/jewelry-shopping-online.jpg

Shares of Shopify (NASDAQ: SHOP) were moving higher today in line with a number of growth stocks in a day with broad gains across the market.

The e-commerce software company seemed to benefit from favorable comments from Fed Chair Jerome Powell about lowering interest rates. Additionally, stocks rose on news of a ceasefire between Iran and Israel, though that seemed to have less of a direct effect on Shopify.

As of 3:21 p.m. ET, the stock was up 4.6%. At the same time, the Nasdaq Composite was up 1.6%.

Source Fool.com