Salesforce Stock Pops as AI Offering Impresses | Global News Avenue

Major U.S. stock indexes were higher on Wednesday, driven by a strong performance by technology stocks.

Although Federal Reserve Chairman Jerome Powell emphasized that the central bank will take cautious attitude In terms of future policy trends, optimism about another interest rate cut at this month’s Federal Reserve meeting remains unchanged. Data released by payroll processor ADP shows Private sector hiring slows What happened in November supports the case for further rate cuts.

The S&P 500 rose 0.6%, extending its record closing high since last week’s Black Friday trading session. The Dow rose 0.7%, closing above 45,000 for the first time. The Nasdaq index rose 1.3% on the strength of technology stocks and also hit a record closing price.

Shares of customer relationship management software provider Salesforce (customer relationship management) led the S&P 500 higher on Wednesday, rising 11%. Multiple research analysts Price target raised Stocks after Salesforce Full-year sales and profit guidance raised. Analysts noted that the company’s autonomous artificial intelligence product, Agentforce, has been attracting customer attention since its launch in October.

Salesforce isn’t the only enterprise software stock posting strong gains. Now serving (Now), which also provides artificial intelligence solutions to help automate business processes, announced an expanded partnership with Amazon (Amazon), further integrating ServiceNow’s platform with Amazon Web Services and Bedrock’s generated artificial intelligence capabilities. On Wednesday, ServiceNow shares soared 6.2%, while Amazon shares rose 2.2%.

Edwards Life Sciences (electronic warfareThe company’s shares rose 5.7% after the medical device maker laid out its growth strategy at its annual investor conference. The structural heart solutions specialist highlighted its new technology pipeline, positive financial outlook and market opportunities for multiple heart valve repair and replacement treatments.

Texas Pacific Land Company stock (TPL) fell 11.6%, the S&P 500’s largest single-day drop for the second time this week. The stock has been volatile since joining the benchmark index late last month. The century-old land trust, a major landowner in the oil-rich Permian Basin, has been exploring opportunities to diversify its revenue streams, including Bitcoin mining and renewable energy projects.

Campbell’s (extracorporeal circulation) The packaged food manufacturer reported lower-than-expected quarterly sales and higher marketing expenses, which led to a year-on-year profit decline, sending its stock price down 6.2%. Chief Executive Mark Clouse said he is leaving his job at the soup and snack maker to become president of the NFL’s Washington Commanders.

Bank of America’s commodities team lowered its lithium price forecast. Analysts say the lithium market is likely to remain in surplus over the next two years, even as high-cost producers of the key battery mineral scale back operations. Albemarle stock (albuminThe world’s largest lithium miner) fell 5.9%.

MarketAxess Holdings (MKTXShares in the operator of an electronic trading platform for fixed-income securities fell 5.5% after the company released trading data since November. Although the average daily trading volume increased by 56% year-on-year, it fell by 3% month-on-month. The platform has experienced sequential declines in sales volume and market share in the U.S. premium and U.S. high-yield segments.