The Dow Jones Industrial Average and the other major indexes rose in morning trading Wednesday. Salesforce (CRM) led the Dow after its positive earnings report late Tuesday. Other earnings movers on the stock market today include Marvell Technology (MRVL) and Okta (OKTA).
The Dow Jones index notched a 0.3% gain and is nearing the 45,000 level once again. The tech-heavy Nasdaq added 0.8%. The S&P 500 rose 0.3%. And the Russell 2000 small-cap index showed a 0.5% increase.
Volume fell on the New York Stock Exchange and rose on the Nasdaq vs. the same time Tuesday.
The 10-year Treasury yield added two basis points to 4.24%. U.S. crude oil inched up to $70.03 a barrel. Bitcoin rose to nearly $96,300.
Stock Market Today: Economic Headlines
The November ADP Employment Report showed 146,000 private sector jobs were added vs. the 165,000 expected, while October’s reading was revised down to 184,000 from 233,000.
In November, the Institute for Supply Management Services Index fell to 52.1 vs. the 55.5 projected and lagged the 56.0 in October. A reading above 50 indicates the services economy is expanding.
Investors will be listening as Fed Chair Jerome Powell delivers comments Wednesday afternoon at The New York Times DealBook Summit. The event is set to start at 1:40 p.m. ET.
The Investors Intelligence Advisors Sentiment report showed that stock market bulls rose to 62.9% from 61.3% one week ago. The firm considers a reading above 60% is considered an elevated risk of a market top. This is the eighth week above the 55% danger zone, the report said.
Dow Jones Stocks: Salesforce Stock In Buy Zone
Salesforce popped nearly 9% in huge volume after the company reported lower-than-expected adjusted third-quarter earnings and higher sales than views. It also provided fourth quarter earnings and fiscal 2025 profit guidance.
The bottom line results included a one-time investment loss. Salesforce stock topped the buy zone of a long deep cup base with a 318.71 buy point. The customer relationship management stock reached a record high and was the biggest gainer on the Dow Jones and S&P 500 Wednesday.
IBD 50 Nvidia (NVDA) stock climbed 0.7% and is in a buy zone from a 50-day moving average pullback and topped the 140.76 entry of an undefined base.
Stock Market Today: Okta, Marvell Jump After Earnings
Okta trimmed morning gains to 2.4% in giant volume after the website security provider topped fiscal third quarter earnings and sales estimates. It also gave full-year profit and revenue guidance above views. The stock jumped above its 200-day moving average before retracing some gains, but it has underperformed as seen in its 33 IBD Relative Strength Rating.
Marvell Technology bolted more than 21% in heavy volume following the company’s better-than-expected fiscal third quarter adjusted profit and sales results. Shares have topped the 20% profit target from a buy point of 85.76 in the stock market today.
Pure Storage (PSTG) rocketed 25% in heavy trading after the data storage company beat fiscal Q3 adjusted earnings and revenue forecasts. Shares retook the 200-day line as they work on a cup-type base.
Other Earnings Movers: Chewy Sinks
Chewy (CHWY) sank 7.3% after the online pet supplies retailer missed third quarter adjusted earnings and modestly beat FactSet estimates.
Foot Locker (FL) stumbled around 13%, extending a downtrend, after the footwear retailer missed fiscal third quarter adjusted earnings and sales forecasts.
Daktronics (DAKT) bolted around 10% after the company exceeded fiscal second quarter profit and revenue estimates. Shares are extended from a cup-with-handle buy point of 15.40. Shares reached a level not seen since 2008.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
YOU MAY ALSO LIKE:
Meta Hits Buy Point And New High, Leaving Stock Poised To Extend 73% Run | Stocks To Watch
Looking For Market Insights? Check Out Our Live Daily Segment | Stocks To Watch
IBD 50 Bitcoin Play Tops Buy Zone As Trump Favors Crypto | Stocks To Watch
Cathie Wood Biotech Holding, An IBD 50 Pick, Offers Buy Point | Stocks To Watch
