NEW YORK, June 1 — Wall Street stocks began June on a high note today, rising early in the session on positive announcements from Salesforce and Delta.
Shares of Dow member Salesforce rocketed up more than 13 per cent higher after the software giant reported better-than-expected earnings and characterised consumer demand as robust. Delta Air Lines, meanwhile, fell 2.1 per cent, even as it described “strong” market conditions and demand despite the drag from higher fuel costs.
Rising prices have weighed on stocks throughout 2022, prompting the Federal Reserve to aggressively move to tighten monetary policy.The broad-based S&P 500 gained 0.4 per cent to 4,147.66, while the tech-rich Nasdaq Composite Index jumped 1.0 per cent to 12,206.98. The Fed is due later today to release a report on economic conditions, while the Institute for Supply Management will release a report on the manufacturing sector. — AFP