Shares of Dow member Salesforce rocketed up more than 13 percent higher after the software giant reported better-than-expected earnings and characterized consumer demand as robust.
AFP
June 01, 2022 / 07:35 PM IST
Representative image
Wall Street stocks began June on a high note Wednesday, rising early in the session on positive announcements from Salesforce and Delta.
Shares of Dow member Salesforce rocketed up more than 13 percent higher after the software giant reported better-than-expected earnings and characterized consumer demand as robust.
Delta Air Lines, meanwhile, fell 2.1 percent, even as it described “strong” market conditions and demand despite the drag from higher fuel costs.
Rising prices have weighed on stocks throughout 2022, prompting the Federal Reserve to aggressively move to tighten monetary policy.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 33,034.24.
The broad-based S&P 500 gained 0.4 percent to 4,147.66, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 12,206.98.
The Fed is due later Wednesday to release a report on economic conditions, while the Institute for Supply Management will release a report on the manufacturing sector.
