Dow futures lift, Salesforce adds 5.7% after earnings

August 30, 2023 03:37 PM PDT | By Investing

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Dow futures lift, Salesforce adds 5.7% after earnings — Image source: Kalkine Media

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Investing.com - U.S. stock futures were trading in a tight range on Wednesday night, following gains among benchmark averages as weaker ADP employment and preliminary GDP figures boosted bets of a pause in interest rate hikes from U.S. Federal Reserve policymakers.

By 6:40pm ET (10:40pm GMT) Dow Jones Futures was up by 0.2%, S&P 500 Futures was flat and Nasdaq 100 Futures lifted 0.1%.

In extended deals, Salesforce (NYSE:CRM) added 5.7%, reporting Q2 EPS of $2.12 versus $1.90 expected on revenues of $8.6 billion versus $8.53 billion expected. The company forecasted Q3 2024 EPS in the range of $2.05-$2.06 versus $1.83 expected, with revenues predicted in the range of $8.7-8.72 billion versus $8.66 billion expected.

Okta, Inc. (NASDAQ:OKTA) popped 9.2% after the company reported Q2 EPS of $0.31 versus $0.22 expected, with revenue reported at $556 million versus $534.67 million expected.

Victoria's Secret & Co (NYSE:VSCO) fell 3%, reporting Q2 EPS of $0.24 versus $0.27 expected on revenues of $1.43 billion versus $1.44 billion expected.

Five Below (NASDAQ:FIVE) fell 7.4%, reporting Q2 EPS of $0.84 versus $0.83 expected, while revenues came in at $759 million versus $759.7 million expected.

Ahead in Thursday's session, market participants will be looking towards personal consumer expenditures index, personal income and spending, jobless claims and Chicago PMI as well as a speech from the Fed's Collins.

Among earnings, Broadcom Inc (NASDAQ:AVGO), UBS Group AG (NYSE:UBS), VMware Inc (NYSE:VMW), Dell Technologies Inc (NYSE:DELL), Lululemon Athletica Inc (NASDAQ:LULU) and Dollar General Corporation (NYSE:DG) are among companies set to release quarterly results.

During Wednesday's regular trade, the Dow Jones Industrial Average added 37.6 points or 0.1% to 34,890.3, the S&P 500 gained 17.2 points or 0.4% to 4,514.9 and the NASDAQ Composite lifted 75.6 points or 0.5% to 14,019.3.

On the bond markets, United States 10-Year rates were at 4.11%.

This article first appeared in Investing.com

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