Salesforce and Meta Lead Markets as Oil and Yields Weigh on Stocks
· Business · CNBC, Yahoo Finance
U.S. stocks moved lower as rising oil prices and Treasury yields above 4.9% renewed investor inflation concerns. Amid the market pullback, Salesforce shares climbed 21.3% following stronger-than-expected revenue and upbeat outlooks driven by artificial intelligence demand. CEO Marc Benioff dismissed SaaSpocalypse fears, noting robust spending from AI leaders on Salesforce products. Meanwhile, Meta Platforms gained 9.9% after settling a lawsuit with state attorneys general for $18 billion and receiving praise for its Muse Spark 1.3 AI model. The Dow Jones Industrial Average led recent losses with a 2.7% drop, while the S&P 500 and Nasdaq fell 2.1%.
Why it matters
Rising Treasury yields and geopolitical tensions in the Middle East continue to pressure global equity markets, affecting investor portfolios across technology and traditional sectors.
Read the original report — CNBC
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.