Canada markets closed
  • S&P/TSX

    20,758.34
    +17.90 (+0.09%)
     
  • S&P 500

    4,136.48
    -43.28 (-1.04%)
     
  • DOW

    33,926.01
    -127.93 (-0.38%)
     
  • CAD/USD

    0.7461
    -0.0050 (-0.66%)
     
  • CRUDE OIL

    73.23
    -2.65 (-3.49%)
     
  • BTC-CAD

    31,272.88
    -346.01 (-1.09%)
     
  • CMC Crypto 200

    535.42
    -1.43 (-0.27%)
     
  • GOLD FUTURES

    1,877.70
    -53.10 (-2.75%)
     
  • RUSSELL 2000

    1,985.53
    -15.69 (-0.78%)
     
  • 10-Yr Bond

    3.5320
    +0.1360 (+4.00%)
     
  • NASDAQ

    12,006.96
    -193.86 (-1.59%)
     
  • VOLATILITY

    18.33
    -0.40 (-2.14%)
     
  • FTSE

    7,901.80
    +81.64 (+1.04%)
     
  • NIKKEI 225

    27,509.46
    +107.41 (+0.39%)
     
  • CAD/EUR

    0.6908
    +0.0026 (+0.38%)
     

Why Snowflake, Datadog, and MongoDB Fell Today

Why Snowflake, Datadog, and MongoDB Fell Today

Shares of enterprise software giants Snowflake (NYSE: SNOW), Datadog (NASDAQ: DDOG), and MongoDB (NASDAQ: MDB) were plunging on Monday, down by 8.7%, 6.4%, and 9.4%, respectively, as of 3:06 p.m. ET. There wasn't much company-specific news today, although Snowflake reported earnings last week, and MongoDB will report tomorrow. Friday's strong jobs and wages report, combined with today's stronger-than-expected services Purchasing Managers' Index (PMI) reading, showed the economy may be stronger than generally thought -- surprising, especially since recent financial results and guidance in the software industry have been less than stellar.