The Dow Is Rising. Salesforce Is a Big Reason.

view original post

Salesforce is giving the Dow Jones Industrial Average a boost this morning.

After opening slightly higher, the Dow was up 123 points, or 0.3%, in recent trading. Salesforce, with its 3.7% gain, was contributing about 56 points on its own to the Dow. The next-best stock in the index was Merck, up 0.9%, followed by Visa, up 0.8%.

The S&P 500 was hovering around break-even with most of the major S&P 500 subindexes rising. Technology, industrials, materials, and real estate were the exceptions.

The Nasdaq Composite was down 0.1%. Both the S&P 500 and Nasdaq closed at record highs on Wednesday.

The yield on the 2-year Treasury note was up 4.741%. The 10-year yield was up to 4.3%.

Yields were reacting to a rate cut from the European Central Bank and a new forecast that included higher inflation expectations for 2025 and 2026. Weekly jobless claims were also higher than expected, adding to uneasiness about the economy among traders with stocks hovering near record highs.