Why Shares of Salesforce Rallied 2.4% Today
Shares of cloud software giant Salesforce (NYSE: CRM) were up 2.4% today as of noon ET. It's a small bit of relief after yet another brutal week for the stock market. Even after the pop higher, Salesforce is down over 4% on the week following the Federal Reserve's decision to increase its short-term interest rate by 75 basis points, the biggest move since the 1990s.
As a reminder, the present value of risk assets decreases as interest rates increase.
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Source Fool.com
