The U.S. stock market held near its records in a quiet day of trading on Thursday, continuing its relatively calm run following weeks of sharp and scary swings.
The S&P 500 inched up by 0.1% and is just 0.5% below its all-time high. The Dow Jones Industrial Average dipped 31 points, or 0.1%, and the Nasdaq composite rose 0.2%.
Dollar General helped lead the market and rallied 14% after reporting a stronger profit for the latest quarter than analysts expected. More customers shopped at its stores, and it also squeezed more profit out of each $1 in sales that it made.
Hormel rose 3.8% after likewise reporting a better profit than expected, thanks in part to strength for its Planters nuts and Jennie-O turkey offerings. It also gave a forecasted range for profit in the upcoming year whose midpoint was above analysts’ forecasts.
Salesforce, meanwhile, climbed 3.7% after swinging between gains and losses earlier in the morning. It delivered a better profit for the latest quarter than analysts expected, though its revenue fell just short.
CEO Marc Benioff extolled how Salesforce is “uniquely positioned for this new era” of artificial-intelligence technology, even if worries continue that all the world’s spending on AI may not end up worth it.
The U.S. stock market held near its records in a quiet day of trading on Thursday, continuing its relatively calm run following weeks of sharp and scary swings.
The S&P 500 inched up by 0.1% and is just 0.5% below its all-time high. The Dow Jones Industrial Average dipped 31 points, or 0.1%, and the Nasdaq composite rose 0.2%.
Dollar General helped lead the market and rallied 14% after reporting a stronger profit for the latest quarter than analysts expected. More customers shopped at its stores, and it also squeezed more profit out of each $1 in sales that it made.
Hormel rose 3.8% after likewise reporting a better profit than expected, thanks in part to strength for its Planters nuts and Jennie-O turkey offerings. It also gave a forecasted range for profit in the upcoming year whose midpoint was above analysts’ forecasts.
Salesforce, meanwhile, climbed 3.7% after swinging between gains and losses earlier in the morning. It delivered a better profit for the latest quarter than analysts expected, though its revenue fell just short.
CEO Marc Benioff extolled how Salesforce is “uniquely positioned for this new era” of artificial-intelligence technology, even if worries continue that all the world’s spending on AI may not end up worth it.
