"Thanks to strong earnings reports, investors are still shrugging off trade war fears and the fact that the U.S. government is now in its third week of a shutdown. Futures are up across the board, with Dow futures up 182 points. The Nasdaq is up about 141, as the S&P 500 tacks on about 27 points. The Vanguard S&P 500 ETF ( NYSEMKT: VOO) is also showing big signs of life thanks to impressive earnings."
"Other stocks, such as Salesforce ( NYSE: CRM), are up more than 6% in premarket after issuing new financial targets for the next few years. In fact, CRM said it now expects revenue of over $60 billion in 2030, above the projected $58.37 billion. CRM also expects to achieve organic annual growth of above 10% between fiscal 2026 and 2030, marking a return to double-digit expansion."
Strong earnings from major banks and corporations have driven market gains and lifted futures. Bank of America, Morgan Stanley, JPMorgan Chase, Wells Fargo, and Goldman Sachs reported results that exceeded analyst expectations, boosting investor confidence. Bank of America reported EPS of $1.06 and revenue of $28.24 billion. Morgan Stanley reported EPS of $2.80 and revenue of $18.22 billion. Salesforce raised long-term targets, forecasting over $60 billion in 2030 revenue and organic annual growth above 10% from fiscal 2026–2030. Trade tensions with China and a continuing U.S. government shutdown remain present but have not halted the rally.
Read at 24/7 Wall St.
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