Salesforce shares rose 5.6% before the bell on upbeat annual and quarterly sales forecasts from the cloud-based software provider. The S&P 500 index closed at a near three-week high on Wednesday after an ADP survey showed softer-than-expected growth in private payrolls, reinforcing hopes of a pause in the Federal Reserve's rate-hike cycle. Investors now await the price consumption expenditure (PCE) index for July, the Fed's preferred inflation measure, due at 8:30 a.m. ET.
- Futures tracking the Dow Jones rose on Thursday as shares of Salesforce jumped after the company raised its annual revenue forecast, while investors awaited a key inflation reading due later in the day.
Investors now await the price consumption expenditure index for July, the Fed's preferred inflation measure, due at 8:30 a.m. ET. The core PCE price index is expected to have climbed 4.2% in the 12 months through July, according to economists polled by Reuters. Traders' bets on the Fed leaving interest rates unchanged in its September meeting stood at 88.5%, while odds of a pause in the November meeting rose to nearly 56% from 50% a day earlier, according to the CME FedWatch tool.
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