Palo Alto Boosts the Nasdaq Despite Another Retail Stock Debacle

·3 min read
Palo Alto Boosts the Nasdaq Despite Another Retail Stock Debacle

It's been another tough week for the stock market, as a big plunge in retail stocks raised new concerns about the impact of inflation on financial markets more broadly as well as the overall economy. As of 8:15 a.m. ET, futures contracts on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up more than 1.5% to 12,065, as the index tries to pull itself up from its bear-market drop over the past six months. It's not surprising to find a tech stock trying to pull the tech-heavy index higher, and Palo Alto Networks (NASDAQ: PANW) played that role Friday morning as the cybersecurity company confirmed its ability to keep growing even under more challenging conditions.

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