US-Iran Truce Hopes Lift Stocks; Salesforce Falls, Snowflake Surges
Stocks rose on reports of a possible US-Iran truce extension, while Salesforce shares fell on disappointing results and Snowflake surged on strong AI demand.
Stocks climbed on Thursday amid reports that the US and Iran may extend their truce, pending President Trump's approval. The S&P 500 and Nasdaq both advanced, with gains broad-based across sectors. Meanwhile, the software sector saw sharp divergence: Salesforce shares tumbled after the company reported disappointing quarterly results, while Snowflake shares surged on robust demand for its AI-powered data cloud services.
The potential US-Iran truce extension has boosted risk sentiment, as a reduction in geopolitical tensions could lower energy prices and support global trade flows. For equity traders, this development reduces a key tail risk that had weighed on markets. However, the mixed earnings from major tech names highlight the ongoing dispersion in the sector. Salesforce's miss underscores challenges in the enterprise software space, while Snowflake's AI-driven growth story continues to attract investor capital. For current pricing on these and other stocks, traders can check NowPrice's equities page.
Looking ahead, market participants will focus on President Trump's decision on the Iran truce, as well as upcoming economic data including personal consumption expenditures (PCE) inflation figures. Goldman Sachs strategist Ben Snider, who raised his S&P 500 target, sees further upside if earnings momentum holds. Snowflake CEO Sridhar Ramaswamy reiterated his bullish AI outlook, while Kayak CEO Peer Bueller noted the travel sector's rally on ceasefire hopes. Traders should watch for any headlines from the White House that could shift the geopolitical landscape.