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0 0 0 0 0.00078554595443824 -0.00668805097320415 0.00077463559395994 0.00077463559395994
Stock impact report

Why Software Leaders ServiceNow, Snowflake, and UiPath Rallied Today [Yahoo! Finance]

ServiceNow, Inc. (NOW) 
Last servicenow, inc. earnings: 4/29 04:10 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Software leaders ServiceNow (NYSE: NOW) Snowflake (NYSE: SNOW) , and UiPath (NYSE: PATH) rallied on Friday, up 3.1%, 3.7%, and 4.4%, respectively, in the day's trading. There wasn't any company-specific news today on these three enterprise software leaders. However, today's solid jobs report, in combination with still-dovish commentary from Federal Reserve officials, sent each stock soaring. Software stocks to benefit from a soft landing The past few years of rising interest rates have generally been difficult for software stocks. While ServiceNow has impressively managed to buck the trend and recover strongly after 2022's downturn, Snowflake and UiPath are still down 62% and 76% over the past three years, respectively. NOW data by YCharts Interest rates have had a lot to do with it. When the post-pandemic inflation took off and the Federal Reserve raised interest rates, it hit software stocks in a number of ways. First, rapidly raising interest rates caused companies, fe Show less Read more
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