Shares of Aurora Innovation, a leading autonomous driving technology company, soared 9.13% in the pre-market trading session on Wednesday, outperforming the broader market.
The surge came as tech stocks rallied after the latest US inflation data showed a surprise slowdown, reinforcing expectations that the Federal Reserve will continue cutting interest rates in the coming months.
According to the report, the US Consumer Price Index rose less than forecast in December, prompting traders to price in a rate cut by the Fed as early as July. The easing inflation data alleviated concerns about aggressive rate hikes, boosting investor sentiment towards growth-oriented tech stocks like Aurora Innovation.
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