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Benzinga
Benzinga
Business
Adam Eckert

What's Going On With PayPal Stock Today?

PayPal Nasdaq PYPL Inflation

PayPal Holdings Inc (NASDAQ:PYPL) shares are trading lower Thursday amid overall market weakness as investors continue to digest inflation concerns, Fed rate hikes and macro uncertainty. Concerns surrounding a potential economic slowdown have also weighed on growth stocks.

U.S. household spending, measured by the personal consumption expenditures index, cooled off in May. Seasonally-adjusted spending was up just 0.2% last month, representing a slowdown from the revised 0.6% jump in April, according to Bureau of Economic Analysis data.

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