Salesforce reported earnings that beat estimates, but its guidance was described as underwhelming, leading to a mixed reaction from investors. CEO Marc Benioff expressed confidence in the company's future, projecting over $46 billion in revenue for the year, despite the stock being down 37% from its November peak.
In contrast, Snowflake's stock surged 36% after it also beat earnings and revenue estimates, with CEO Sridhar Ramaswamy highlighting the company's strong product innovation and customer base. The upcoming economic data, including jobless claims and GDP readings, will be crucial for market direction, with the Dow Jones consensus estimates indicating a stable economic outlook.
Additionally, bond yields are showing varied performance, with the 10-year Treasury yielding 4.502%. Overall, these earnings reports and economic indicators will likely influence investor sentiment and market movements in the near term