"The S&P 500 slipped 0.1% but remains only 0.7% below its all-time high, continuing a relatively calm run following weeks of sharp swings. The Dow Jones Industrial Average was down 35 points, or 0.1%, as of 10 a.m. Eastern time, and the Nasdaq composite was 0.2% lower. Dollar General rallied 8.8% after reporting a stronger profit for the latest quarter than analysts expected, as more customers shopped at its stores. It was also able to squeeze more profit out of each $1 in sales that it made."
"Salesforce, meanwhile, helped keep the market in check. It delivered a better profit for the latest quarter than analysts expected, but its revenue fell just short, and its stock drifted between modest gains and losses. It was most recently up 0.4%. 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."
U.S. stock indexes hovered near record levels, with the S&P 500 down 0.1% and about 0.7% below its all-time high. The Dow fell roughly 35 points and the Nasdaq was 0.2% lower. Dollar General jumped 8.8% after reporting a stronger-than-expected quarterly profit and improving profit per dollar of sales. Hormel rose 3.9% on stronger profit, strength in Planters nuts and Jennie-O turkey offerings, and a forecast midpoint above analysts' estimates. Salesforce posted profit above expectations but slightly missed revenue, and its CEO highlighted positioning for AI amid concerns about potential overinvestment. Market moves remain sensitive to expectations for a Federal Reserve rate cut next week to support a slowing job market.
Read at Fortune
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