Why ServiceNow Shares Are Trading Higher

ServiceNow Inc NOW shares are trading higher by 4.09% to $409.87 during Thursday's session. Shares of several companies in the broader tech sector are trading higher amid overall market strength following December's CPI report, which showed signs of cooling inflation.

What Happened With CPI Data Thursday?

The consumer price index rose 6.5% in December, down from 7.1% in November, according to data the Labor Department reported on Thursday. 

The December CPI reading was in line with average economist estimates of 6.5%.

Core inflation, which excludes volatile food and energy prices, was up 5.7% in December, in line with average economist estimates for a 5.7% gain...Read More

According to data from Benzinga Pro, ServiceNow has a 52-week high of $621.41 and a 52-week low of $337.00.