Microsoft Corp (NASDAQ:MSFT) shares are trading lower by 1.9% to $330.82 Monday afternoon, depsite a lack of company-specific news for the session. The stock is potentially trading lower as investors await Wednesday’s inflation report. Microsoft is otherwise trading higher by some 38% on a year-to-date basis amid ongoing, marked interest in AI-related stocks.
In 2023, Microsoft has been actively investing in AI research, development and acquisitions. The increasing popularity of AI-related software can drive higher demand for Microsoft’s AI-powered products and services, such as Azure and Microsoft 365 capabilities.
This can lead to revenue growth and improved financial performance, which is often reflected in the stock price.
See Also: Why Iovance Biotherapeutics (IOVA) Shares Are Exploding Higher
What’s Going On With Inflation?
The June CPI inflation report is eagerly anticipated as the most significant economic event of the week, with traders anxiously awaiting its release to gain insights into the Fed’s future policy decisions.
Recent conflicting job market data has added to the uncertainty, with expectations of a rate hike in July, but doubts lingering regarding additional rate hikes later in the year. Currently, the market assigns probabilities of 22% for another rate rise in September and 34% in November…Read More
According to data from Benzinga Pro, MSFT has a 52-week high of $351.47 a 52-week low of $213.43.
