Jim Cramer Weighs In on Salesforce Earnings, Tim Cook's Comments and the Markets
Here's what you need to know about the markets Wednesday.
Are the Markets Ready For a Fed Rate Cut?
The simple answer?
The market closed up over 500 points Tuesday and opened in the green Wednesday morning.
The rally came after comments from St.
Louis Federal Reserve President James Bullard and Fed chair Jerome Powell.
Powell's comments during a central bank symposium in Chicago triggered the market jump, although investors had been primed for the rally earlier in the week when Bullard, spoke of a "darkened" global trade outlook and hinted at a policy move in response.
What Salesforce Is Doing Right With its Customers Real Money Stock of the Day Salesforce reported earnings after the bell Tuesday.
Adjusted earnings in the period were 93 cents a share vs.
74 cents a year earlier and ahead of analysts' forecasts of 61 cents.
The company reported that revenue rose to $3.74 billion from $3.01 billion a year earlier and bested expectations of $3.66 billion.
Cloud-based revenue jumped 11.2% to just below $1.1 billion.
1 in sales, we're No.
1 in service and we're leading in so many other areas.
1 in model-driven application platforms, driven by our amazing community of 6 million developers.
We're also a leader in marketing and commerce and continue to gain share and with MuleSoft we also have this No.
1 integration platform, it's incredible," said Marc Benioff, co-CEO of Salesforce.
Tim Cook's Comments on China At Apple's WWDC conference Tuesday, Apple CEO Tim Cook sat down with CBS.
Cook, when asked about China, said "currently the Chinese have not targeted Apple at all.
And I don't anticipate that happening, to be honest." "I'm hoping that doesn't happen.
And I don't anticipate it happening.
I know people think the iPhone is made in China," Cook said.
"The iPhone is assembled in China.
The truth is, the iPhone is made everywhere.
It's made everywhere.
And so a tariff on the iPhone would hurt all of those countries, but the one that would be hurt the most is this one," he continued.
Jim Cramer: Salesforce Knows Its Customer, but Do These Other Tech Giants?