Fitbit (FIT) surged in its market debut on the New York Stock Exchange Thursday, rocketing more than 50% higher to just over $30 a share, well above the initial pricing of $20. The IPO values the wearable tech company at around $4.1 billion. Stocks charged higher after the latest consumer inflation data supported hopes a more dovish Fed will raise rates gradually. The central bank left rates unchanged in its June meeting. The Nasdaq broke a 15-year-old intraday record in the Fed-fueled rally. Manufacturing conditions in the Philadelphia Fed district markedly improved in June with the Philly Fed index rising to its highest level since December. The reading came in above estimates.
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