Stocks closed higher on Monday as investors looked ahead to key inflation report. On Tuesday, January’s consumer price index will be released, with an expectation of 0.5% growth month-over-month.
Overall, S&P 500 rose 1.1% to 4,137, while NASDAQ increased 1.5% to 11,892.
Tweet of the Day
While you’re watching the big game, who’s watching your business? 👀https://t.co/cqrgvcqb9e#SBLVII pic.twitter.com/TR9YVbNmMa
— CrowdStrike (@CrowdStrike) February 13, 2023
Chart of the Day
Our chart of the day is the one-year chart of ServiceNow (NOW) as of February 1, 2023, when the stock was at $474.
ServiceNow builds applications that help automate processes and create efficient workflows, to enable work to flow naturally across different departments of a business. Its platform integrates easily with other enterprise systems including Microsoft Teams and Azure, Amazon Web Services, Splunk, SAP, Oracle, YouTube, Google Cloud, and Crowdstrike among others.
ServiceNow continues to deliver impressive quarterly results, even as companies are hesitant to spend on software. Last qtr, the company’s $5 million-plus and $10 million-plus deals doubled from a year ago. Government business remained strong and grew 50% year-over-year. The company doubled its business in the retail, hospitality, transportation, and logistics industries.
NOW is a core holding in the Growth Portfolio and Aggressive Portfolio.
