US Futures Climb on Inflation Data; CRM, OKTA Surge on Earnings
U.S. stock futures edged higher Friday morning as investors parsed a mixed economic picture of slowing growth and sticky inflation. Okta and Salesforce shares surged on strong earnings reports, driving sector performance. The PCE price index rose 0.2% in July, indicating persistent price pressures.
- Okta surged over 28% after reporting improved quarterly revenue and providing updated full-year guidance, presenting a potential catalyst for investors seeking growth in identity and access management solutions. - Salesforce climbed more than 22% following its latest quarterly results and forward-looking guidance, signaling renewed investor confidence in its cloud and offerings. - CrowdStrike Holdings rose over 20% after posting quarterly earnings and raising its revenue outlook, indicating strong performance in the cybersecurity sector. - Investors monitoring interest rate sensitive sectors like banking and retail may consider the implications of the 10-year Treasury yield holding near 4.66% amid slowing growth.
