As part of a shake-up in the stocks comprising the Dow Jones Industrial Average announced earlier this week, Salesforce.com Inc. was among a trio of companies included in the venerable benchmark, but now its stock is soaring.
Shares of Salesforce.com Inc. CRM, +26.04% were up 26% Wednesday and 30% so far this week. That run-up puts the company’s share price at $272, with the business-software provider picking up a cool $55 billion in market value since the end of last week, according to FactSet data.
However, the share price jump could create a problem for S&P Dow Jones Indices, which announced that the 124-year old price-weighted Dow DJIA, +0.29% would be getting a makeover, effective Monday. Read more…..
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White House economic adviser Larry Kudlow speaks at the Republican National Convention.