Stock Market Winners & Losers: Markets Slides as Salesforce Shares Slip | Job Market Stays Relatively Healthy | 37% of Americans Paid a Late Fee in Last 12mos
Stocks fell as Salesforce shares dropped 18% due to a quarterly revenue miss and soft guidance. Conversely, Foot Locker surged over 28% on strong earnings, and Best Buy jumped 10% as cost-cutting measures preserved profits despite sluggish sales. Traders are looking ahead to the release of key U.S. inflation data, the PCE index. Other notable stories include a 15% increase in 401(k) millionaires, Katy Perry making the 2024 America's Self-Made Women list with a $350 million net worth, and a relatively healthy job market for low earners, especially in healthcare and hospitality. However, 37% of Americans incurred late fees in the past year, highlighting financial struggles. As the "peak retirement" phase begins, companies will need to recruit new talent to replace retiring baby boomers.
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