Salesforce's stock selloff can be blamed for Dow futures trading lower
Shares of Salesforce Inc. (CRM) slumped 6.3% in premarket trading in the wake of the customer-relationship-management software company's fiscal first-quarter report, which was enough to push futures for the Dow Jones Industrial Average into the red. The implied price decline for the stock would shave about 92 points off the Dow's price. Meanwhile, Dow futures fell 22 points, or 0.1%, ahead of the open, while futures for the S&P 500 rose 0.1% and futures for the Nasdaq 100 edged up less than 0.1%. Salesforce's stock, which had closed Wednesday at a 16-month high, was by far the biggest of the Dow's premarket decliners Thursday; only 6 of 30 Dow stocks were losing ground premarket.
-Tomi Kilgore
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June 01, 2023 08:20 ET (12:20 GMT)
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