IAC, Pure Storage, T. Rowe Price, Credit Acceptance, and Stifel Stocks Trade Up, What You Need To Know

What Happened?

A number of stocks jumped in the afternoon session after the major indices rebounded, as Fed Chair Jerome Powell delivered dovish remarks at the much-awaited Jackson Hole symposium. Powell suggested that with inflation risks moderating and unemployment remaining low, the Federal Reserve might consider a shift in its monetary policy stance, including potential interest rate cuts. This outlook eased market concerns about prolonged high interest rates and their impact on economic growth. The prospect of lower borrowing costs bolstered investor confidence, particularly in sectors that have lagged, leading to a broad rally across the market.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

Digital Media & Content Platforms company IAC (NASDAQ:IAC) jumped 3.6%. Is now the time to buy IAC? Access our full analysis report here, it’s free. Hardware & Infrastructure company Pure Storage (NYSE:PSTG) jumped 3.9%. Is now the time to buy Pure Storage? Access our full analysis report here, it’s free. Custody Bank company T. Rowe Price (NASDAQ:TROW) jumped 4%. Is now the time to buy T. Rowe Price? Access our full analysis report here, it’s free. Auto Loan company Credit Acceptance (NASDAQ:CACC) jumped 4.8%. Is now the time to buy Credit Acceptance? Access our full analysis report here, it’s free. Investment Banking & Brokerage company Stifel (NYSE:SF) jumped 3.7%. Is now the time to buy Stifel? Access our full analysis report here, it’s free.

Zooming In On Credit Acceptance (CACC)

Credit Acceptance’s shares are somewhat volatile and have had 10 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Credit Acceptance is up 8.4% since the beginning of the year, and at $504.47 per share, it is trading close to its 52-week high of $543.74 from July 2025. Investors who bought $1,000 worth of Credit Acceptance’s shares 5 years ago would now be looking at an investment worth $1,058.

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