ServiceNow And This AI Play Lead 5 Stocks Near Buy Points

ServiceNow (NOW) and Confluent (CFLT), both AI enterprise-software plays, lead this weekend’s watch list of five stocks near buy points. In addition to NOW and CFLT, the list includes Brazilian aircraft maker Embraer (ERJ), Tidewater (TDW), whose fleet of vessels serves the offshore oil industry and cardiovascular treatment innovator Shockwave Medical (SWAV).

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ServiceNow stock is part of the IBD Leaderboard portfolio of elite stocks. ServiceNow, Tidewater and Shockwave stock are part of the flagship IBD 50 list.

Stock Market Set-Up

Both the S&P 500 and Nasdaq hit record highs last week, with the Nasdaq eclipsing its November 2021 intraday peak on Friday.

The S&P 500 added 0.8% on Friday, after climbing 21.5% in the four months through February — the biggest gain over a four-month stretch since the Covid comeback through July 2020.

Markets got a helping hand in recent days from easing Treasury yields and firming rate-cut odds. Yet economic data have been giving mixed signals. It’s hard to know what to make of January’s hot jobs and inflation reports but soft consumption and construction data. However, the February jobs report on Friday may start to clear things up. On Wednesday, Fed chair Jerome Powell will testify before Congress, and investors will be listening for clues about the rate-cut outlook.

Be sure to read IBD’s The Big Picture column after each trading day to get the latest on the prevailing stock market trend and what it means for your trading decisions.

Bull In The Room: The Fed’s Secret Reason For Delaying Rate Cuts

ServiceNow Stock

ServiceNow’s cloud-based software platform automates IT processes, integrates with other enterprise-software platforms and churns out analytics for informed decision-making. The Santa Clara, Calif., company launched its Now Assist generative AI application in Q3 and it turned into its biggest-ever launch for the first full quarter in Q4 based on annual contract value.

“There’s a real appetite to invest in…