Reverse Stock Price, Sale of Salesforce Dollars, Jobs Near All-Time High: LIVE UPDATES

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Dow Laggards

Symbol Price To change %To change
BA $131.40 -0.83 -0.63%
MMM $149.29 -0.22 -0.15%
GS $326.85 -1.73 -0.53%

The Dow Jones Industrial fell mid-morning, weighted by Boeing, 3M and Goldman Sachs.

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Job vacancies near record highs

Salesforce leaps on positive outlook

Salesforce shares rose after forecasting a 21% annual jump in second-quarter revenue to gain between $7.69 billion and $7.7 billion.

On pace with the largest percentage increase since August 26, 2020, when it rose 26.04%, as tracked by Dow Jones Market Data Group.

“There is no better measure of our resilience and the momentum of our business than the $42 billion we have in remaining performance obligation, representing all future contracted revenue. While delivering incredible growth to scale, we are committed to consistent margin expansion and cash flow growth as part of our long-term plan to drive both top line and bottom line performance,” said the CEO Marc Benioff.

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Stocks rebound, Salesforce jumps on forecast

Symbol Price To change %To change
RCMP $160.24 -4.86 -2.94%
Me: DJI $33,140.62 +150.50 +0.46%
SP500 $4,154.46 +22.31 +0.54%
I: COMP $12,204.88 +123.49 +1.02%

U.S. stocks rose across the board as investors factored in positive forecasts from Salesforce and Delta. Investors are also awaiting the latest reading on job postings via the JOLTS report scheduled for 10 a.m. ET. In commodities, oil climbed to $117 a barrel.

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Delta improves outlook as demand returns

Delta Air Lines Inc.

$

41.69

Delta Airlines says revenue is returning to pre-pandemic levels.

“June 2022 Quarter Results with Adjusted Total Revenues Fully Recovered in 2019, Operating Margin 13-14%, ~$1.5B Free Cash Flow and Adjusted Net Debt Below $20B” , the company revealed in a financial update.

“Total unit revenue is expected to be 7-8 points higher than originally forecast on capacity 1-2 points lower than expected. The improvement in unit revenue is driven by widespread demand and strong pricing for consumer travel , business and international, with improvement during the quarter,” he added.

Futures contracts at a glance

Dow Jones Industrial Average futures rose more than 100 points on Wednesday, while Nasdaq and S&P 500 futures were flat.

Meanwhile, oil prices are higher. West Texas Intermediate futures were trading at around $116 a barrel and Brent futures at around $117 a barrel.

Equity futures trading is mixed to start the new month

US equity futures traded mixed as the new month begins after ending May on a bearish note. Traders will be watching the ADP report on private hiring, ISM manufacturing and job postings.

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Gasoline continues to break records

The average price of a gallon of gasoline in the United States hit a record high on Wednesday, jumping 5 cents to $4.67, according to the latest figures from AAA. The price on Tuesday was $4.62. Diesel price increased from $5,521 to $5,538.

Oil rises on Russia ban as China lifts COVID-19 lockdown

Oil prices rose on Wednesday morning after European Union leaders agreed to a partial, phased ban on Russian oil and China ended its COVID-19 lockdown in Shanghai.

U.S. West Texas Intermediate (WTI) crude was trading around $116 a barrel. Brent crude was trading around $117 a barrel. Both benchmarks ended May up, marking the sixth consecutive month of rising prices.

Data from the US government on stocks was due Thursday.

Bitcoin chains four days of consecutive victories

Bitcoin traded around $31,000 on Wednesday as a winning streak came to an end. Over the previous four days, the cryptocurrency gained 10.5%. Bitcoin ended May down over 17% and down over 31% year-to-date. Ether traded around $1,900. Dogecoin remained around 8 cents.

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