Technology Shares Rise as Investors Consider Rates -- Tech Roundup

Shares of technology companies rose as the banking crisis called into the question the Fed's interest rate path.

Traders are rapidly shifting their expectations over the Federal Reserve's next move amid the crisis of confidence sweeping U.S. banks, with market pricing suggesting a significant chance the central bank makes no change to interest rates in March.

Chances of no change in interest rates after the Federal Open Market Committee's Mar. 21-22 meeting were last around 30%, according to the CME FedWatch Tool, with pricing for the terminal rate-the peak of rates in the current hiking cycle-also falling.

In deal news, U.S. private-equity firm Silver Lake and Canada Pension Plan Investment Board have agreed to acquire experience-management software company Qualtrics International in a deal that values the Nasdaq-listed company at around $12.5 billion.

Write to Amy Pessetto at [e-mail]

(END) Dow Jones Newswires

03-13-23 1701ET