Among major earnings reports, on Wednesday, Bank of America Corp. (NYSE:BAC) and Morgan Stanley (NYSE:MS) both topped the Street’s expectations.
Investors are awaiting earnings results from Charles Schwab Corp. (NYSE:SCHW), Travelers Companies Inc. (NYSE:TRV), and US Bancorp (NYSE:USB) today.
Meanwhile, the Federal Reserve’s latest Beige Book report revealed that tariffs implemented by the Donald Trump administration are translating into higher costs for businesses, with the financial burden increasingly being passed on to consumers.
The 10-year Treasury bond yielded 4.02% and the two-year bond was at 3.50%. The CME Group's FedWatch tool‘s projections show markets pricing a 97.8% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
0.18%
S&P 500
0.21%
Nasdaq 100
0.36%
Russell 2000
0.19%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.25% at $666.85, while the QQQ advanced 0.43% to $604.82, according to Benzinga Pro data.
Stocks In Focus
Salesforce
Salesforce Inc. (NYSE:CRM) jumped 4.01%, as it set a revenue goal of over $60 billion by fiscal year 2030, not including any contribution from Informatica. This target suggests an organic compounded annual growth rate of over 10% from FY26 to FY30.
CRM maintained a stronger price trend over the short term but a weak trend in the medium and long terms, with a robust growth ranking, as per Benzinga’s Edge Stock Rankings. Additional performance details are available here.
Hewlett-Packard Enterprise
Hewlett Packard Enterprise Co. (NYSE:HPE) tumbled 9.19% as its third-quarter results showed record revenue thanks to AI demand, while strategic restructuring costs compressed the company’s profit margins.
Benzinga’s Edge Stock Rankings ...
