With that as a backdrop, Shopify (NYSE: SHOP) had jumped 6.6%, CrowdStrike (NASDAQ: CRWD) had climbed 4.7%, and Atlassian (NASDAQ: TEAM) had risen 2% at 11:15 a.m. What happened A broad cross-section of stocks initially roared higher on Wednesday as market watchers fixated on the Federal Reserve Bank's ongoing battle to cool persistent inflation. The latest U.S. government data showed that inflation cooled somewhat last month, which could convince the Fed to alter the pace and tenor of its campaign of interest rate hikes, which are designed to control rising prices.