Futures lower, Salesforce to report - what's moving markets By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Futures lower
- U.S. stock futures declined as investors await key inflation data that could impact future Federal Reserve decisions.
- S&P 500, Nasdaq 100, and Dow futures all dropped by 0.4%.
- Nasdaq Composite rose due to Nvidia shares, while the Dow Jones fell on rising Treasury yields.
- Traders are focused on the personal consumption expenditures price index release on Friday for inflation insights.
Salesforce to report
- Salesforce is set to announce its fiscal first-quarter earnings with attention on its Data Cloud division.
- Analysts expect strong demand for AI products from Salesforce.
- The Data Cloud unit's revenue grew nearly 90% year-over-year.
- Challenges include economic uncertainty and spending recovery for small and medium-sized businesses.
American Airlines slashes earnings outlook
- American Airlines reduced its second-quarter earnings per share forecast and TRASM expectations.
- Quarterly flying capacity is now expected to match last year's levels.
- The Chief Commercial Officer is leaving in June.
BHP seeks extension in Anglo American talks
- BHP requested more time for negotiations with Anglo American after a rejected bid.
- The deadline for an agreement was extended, allowing further engagement.
- BHP aims to address concerns regarding the deal structure.
Crude gains ahead of U.S. inventory data
- Crude prices increased on hopes of higher demand during the U.S. summer season.
- OPEC+ is expected to extend output cuts into the second half of the year.
- Memorial Day marked the beginning of peak oil demand season in the U.S.
- Analysts predict a draw in overall inventories based on upcoming data.
Analyst Views on LCO
Wall Street analysts forecast LCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LCO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 27.375
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Current: 27.375
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
