Why CrowdStrike, MongoDB, and Datadog Spiked Higher Today
Shares of CrowdStrike (NASDAQ: CRWD), MongoDB (NASDAQ: MDB), and Datadog (NASDAQ: DDOG) all spiked on Friday, up 5.5%, 6.3%, and 7.2%, respectively, as of 1:22 p.m. EDT. There wasn't any material news out of these companies today. However, two main factors seem to be behind today's bounce.
First, there were some better-than-expected earnings out of software peers today. Second, some additional inflation readings came out, providing hints that inflation may have peaked.
On Friday, the Personal Consumption Expenditures index (PCE) was released by the Commerce Department, showing slowing inflation in April relative to March -- although it was still high by recent historical standards. The PCE differs from the Consumer Price Index (CPI) released earlier this month in that it weighs certain household expenditures differently and accounts for consumers substituting goods and services for other goods and services as relative prices change.
Source Fool.com
