Snowflake pulled off the fastest revenue growth among its peers. The company added 48 enterprise customers paying more than $1 million annually to reach a total of 654. The market seems happy with the results as the stock is up 20.7% since reporting. It currently trades at $241.99. However, they also noted that inflation "has moved up and remains somewhat elevated," creating a conflict as the committee balances its dual mandate of stable prices and full employment.Investors continued to look for clues on the pace of future rate cuts as the Fed tries to balance a slowing job market with ongoing inflation. Most Fed Committee members have indicated they expect two more cuts for the year.The Fed's "dot plot" also suggests a much slower pace of cuts than the market currently anticipates. With only one cut implied for 2026 compared to the three that traders priced in, this explained the market pullback after the initial spike that followed the rate cut announcement. MDB stock price bounced intraday after touching $368, supported by strong demand from long-term holders. Sector rotation into growth names could provide tailwinds if treasury yields retreat.
