Warsh Sparks Rate-Hike Bets, Nvidia Reaffirms AI Growth Story: This Week on Wall Street

CrowdStrike, Marriott, American Express And More On CNBC’s ‘Final Trades’

Belski recommended Marriott, Snipe chose American Express, Ethridge picked Global X Cybersecurity ETF, Brown named CrowdStrike.

Salesforce (CRM) Stock Soars on Q2 Earnings: Is It Too Late to Buy?

Salesforce delivered a strong Q2 report with revenue of $11.34 billion (beating consensus) and raised full-year guidance. The stock rallied over 20% as investors gained confidence in the company's ability to leverage AI as a growth driver. Agentforce and Data 360 ARR reached $3.9 billion with 210% YoY growth, while major customers like Cisco, Dell, Uber, and Robinhood are expanding AI deployments with Salesforce.

QUICK SPARK: Salesforce Stock Books Best Week Since August 2020

Salesforce closed up 24.31% for the week, its strongest run since August 2020 and the top S&P 500 performer, after an 80% Q2 EPS beat and Anthropic AI deal.

Stock Market Midday, Aug. 28: Stocks Edge Higher on Fed's Clear Inflation Message

Major stock indexes edged higher on Aug. 28 as investors digested Federal Reserve Chairman Kevin Warsh's Jackson Hole speech emphasizing commitment to reducing inflation. The S&P 500 gained 0.20%, Nasdaq rose 0.14%, and the Dow climbed 0.17%. Communication services led sector gains while industrials and healthcare traded lower. Elastic surged 18% on earnings, but semiconductor stocks like Marvell and Rubrik fell despite beating expectations, as investors grew cautious following recent rallies and amid signals of potential rate hikes.

Okta Stock Surges 29% Post Q2 Earnings: Should You Buy?

Okta reported better-than-expected Q2 fiscal 2027 earnings with revenues of $805 million (up 11% YoY) and adjusted EPS of $1.05, beating consensus estimates. The company showed strong enterprise demand with customers generating over $1 million ACV increasing 20%, and new AI-agent security products contributing 30% of quarterly bookings. Okta provided positive FY27 guidance expecting 10-11% revenue growth and raised its Zacks Rank to #2 (Buy).

Shares of software companies are trading lower, possibly after Federal Reserve Chairman Kevin Warsh’s comments on inflation raised concerns that interest rates could remain higher for longer. The prospect of higher rates may weigh on growth-oriented stocks.