Dow futures trade higher, Salesforce jumps 15.4% after earnings

  • Stock Market News
Dow futures trade higher, Salesforce jumps 15.4% after earnings
Credit: © Reuters.

By Oliver Gray - U.S. stock futures were trading slightly higher during Wednesday's evening trade, after a mixed session among major benchmark indices as the S&P 500 and the NASDAQ retreated amid spiking bond yields, while investors continued monitoring a fresh batch of earnings results.

By 18:30 ET (23:30 GMT) Dow Jones futures were trading 0.5% higher, while S&P 500 futures and Nasdaq 100 futures each ticked 0.1% higher.

In extended deals, Salesforce (NYSE: CRM ) lifted 15.4% after the company reported Q4 EPS of $1.68 versus $1.36 expected, while revenue was reported at $8.38 billion versus $8B expected. The company also gave guidance for Q1 2024, with EPS coming in at $1.60-$1.61 versus $1.32 expected, while forecasting revenues of $8.16B-$8.18B versus $8.05B expected.

Snowflake (NYSE: SNOW ) dipped 7.3% after reporting Q4 EPS of $0.14 versus $0.05 expected on revenue of $589 million versus $576.221M expected.

Okta (NASDAQ: OKTA ) lifted 13.7%, reporting Q4 EPS of $0.30 versus expectations of $0.09, while revenue came in at $510M versus $489.79M expected.

American Eagle Outfitters Inc (NYSE: AEO ) gained 6.6% after reporting EPS of $0.37 versus $0.3 expected while revenues came in at $1.5B versus $1.48B expected.

Ahead in Thursday's session, market participants will be looking towards jobless claims , quarterly productivity and unit labor cost data, as well as speeches from the Fed's Waller and FOMC member Kashkari .

On the earnings front, companies including Broadcom Inc (NASDAQ: AVGO ), Costco Wholesale Corp (NASDAQ: COST ), Marvell Technology Group Ltd (NASDAQ: MRVL ), and Dell Technologies Inc (NYSE: DELL ) are scheduled to release results.

During Wednesday's session, the Dow Jones Industrial Average finished flat at 32,661.9, the S&P 500 fell 18.8 points or 0.5% to 3,951.4, and the Nasdaq Composite dipped 76.1 points or 0.7% to 11,379.5.

On the bond markets, United States 10-Year rates were at fresh 4-month highs of 3.994%.

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