Stock futures indicate additional gains ahead of this morning’s opening bell. The DJIA is currently within 1% of breaking even for the year.
Major changes are coming to the Dow. As a result of Apple’s decision to enact a 4-for-1 split three companies will be replaced in the blue-chip index. Pfizer (PFE), Raytheon Technologies (RTX) and Exxon Mobil (XOM) will be replaced by Amgen (AMGN), Honeywell (HON) and Salesforce.com (CRM), respectively. The changes will help offset the reduction to the index’s Global Industry Classification Standard Information Technology sector. The three newcomers are all rising pre-market.
Among its larger cap peers, Salesforce (CRM) has managed to do a relatively good job of flying under the radar, but that could change soon. In addition to the announcement of the company’s addition to the Dow index, CRM will report earnings after the closing bell today. An optimistic rally could ensue in anticipation of the call.
Salesforce has had solid momentum as it slowly but surely grinds higher. A recent breakout from significant resistance at $195 could be a good indicator for continued momentum for CRM stock.
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