S&P 500 top movers: Salesforce.Com Inc (CRM: NYSE) shares soar by more than 20%

S&P 500 continues to push higher toward 3,500.
Salesforce.Com Inc (CRM: NYSE) surges to all-time highs on upbeat quarterly results.

Eren Sengezer FXStreet

For the third straight day, Wall Street's main indexes started the day little changed. However, the risk-on market environment on coronavirus treatment optimism provided a boost to stocks and the S&P 500 Index (SPX) touched a fresh all-time high of 3,481. At the moment, the SPX is up 0.7% on the day at 3,467.

S&P 500 top movers

Following the closing bell on Tuesday, Salesforce.Com Inc (CRM: NYSE) reported that total revenue increased by an impressive 29% to $5.15 billion in the second quarter from a year earlier. This figure beat analysts' estimate of $4.9 billion. Moreover, the company noted that it sees 2021 fiscal year revenue between $20.7 billion and $20.8 billion, compared to previous forecast of $20 billion.

Boosted by these upbeat figures, CRM surged to an all-time high of $277,97 before retreating on profit-taking. At the moment, CRM is up 23.28% on the day at $266.15.

On the other hand, Norwegian Cruise Line Holdings Ltd (NCLH: NYSE) and SL Green Realty Corp (SLG: NYSE) shares are down 6.3% and 4.75%, respectively, as the biggest daily percentage losers.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.