Twilio Stock (NYSE:TWLO)
Twilio Inc. (NYSE:TWLO), a provider of communications software in the cloud, had a rise in Twilio stock price in the absence of any news related to the firm itself. Instead, investors are more likely to buy the stock because they feel more bullish about the market after the last round of quarterly reports from financial institutions.
As of 1:16 p.m. ET, the Twilio stock had risen by 3.2%.
What’s the Reason?
Investors were seeking any hint that the U.S. economy was doing better than anticipated. They got it when Bank of America, New York Mellon, and Goldman Sachs posted quarterly profits that exceeded expectations.
Recent gains in market indices may be attributed partly to the fact that each bank reported better-than-expected quarterly results.
Twilio stock investors are probably hoping that, despite growing inflation and aggressive interest rate rises by the Federal Reserve, the U.S. economy is still robust, as seen by the banks’ good results.
Twilio stock investors are striving to restore their market confidence after the stock dropped 80% in 12 months with the rest of the tech industry.
What Should We Do Now
While the market has risen over the previous two days, that trend may not continue. Inflation is still around a 40-year high, so the Fed will likely raise the federal funds rate again in November and December.
Even worse, experts at Bloomberg produced a paper yesterday predicting an imminent U.S. recession with 100% certainty.
No one can say for sure whether a recession is on the horizon. Still, if it does, investors’ attempts to predict its severity might lead to more share-price fluctuations for Twilio stock.
Featured Image- Megapixl @ Designer491
Author Shariq Khan 
