Opendoor Shares Surge on Renewed Fed Rate Cut Expectations

Opendoor Technologies Inc. experienced a significant rally on Friday, with its stock price climbing over 11%. This substantial upward move was primarily driven by a weaker-than-anticipated U.S. jobs report, which bolstered investor expectations that the Federal Reserve might implement interest rate cuts as early as this month. Following a highly volatile trading session that saw shares reach peaks of $6.85, the stock ultimately closed at $6.65.

A disappointing employment report served as a major catalyst for interest-rate-sensitive equities. The data revealed that the U.S. economy added a mere 22,000 non-farm payrolls, a figure that fell drastically short of the 75,000 jobs economists had forecast. For capital-intensive enterprises like Opendoor, which rely heavily on debt financing, the prospect of lower borrowing costs presents a Read more...