U.S. futures were mixed on Thursday as Salesforce released its quarterly earnings and investors await the Federal Reserve’s next policy meeting.
Contracts on the S&P 500 were down 0.4%, while those on the Nasdaq plummeted by 0.7%. Dow Jones futures edged higher by 0.2%. the yield on the 10-year Treasury note remained above 4% after hitting this level on Wednesday for the first time since November last year.
Investors eagerly anticipated the release of Salesforce quarterly results, with the company’s stock gaining 15% on Thursday morning following the announcement.
The company made headlines with its announcement that it would be increasing its billion share repurchase authorization to $20 billion. COO Brian Millham stated the following: “We’re inspecting every part of our business to find opportunities to drive efficiencies and reduce cost of sales, marketing, and G&A.”
Another stock that was closely tracked on Thursday was electric vehicle maker Tesla, with the company’s stock falling by 7% after it held its latest investor day on Wednesday. The EV maker offered little information on new product details, rather choosing to emphasize the company’s push to innovate its manufacturing process.