Market Rally Amid Inflation Data; Ulta Beauty, Salesforce Lead Gains
U.S. equities edged higher Friday as cooler-than-expected inflation data fueled speculation of imminent Federal Reserve rate cuts. The S&P 500 and Dow hovered NEAR record levels, while the Nasdaq mirrored the 0.1% uptick.
Ulta Beauty surged 14% after smashing earnings expectations and lifting guidance, capitalizing on resilient cosmetics demand. Victoria’s Secret rode the retail wave with an 11% jump, attributing performance to reduced promotions and pricing power.
Salesforce extended its AI-driven rally, climbing 5% as its Data 360 and Agentforce products demonstrated accelerating adoption. The tech sector's strength contrasts with Paramount Skydance's 8% plunge after losing streaming rights to Netflix in a high-stakes bidding war.