Salesforce Inc (NYSE:CRM) stock is surging Wednesday. The move appears driven by a broader recovery in tech and software stocks after cooler inflation data from the Bureau of Economic Analysis (BEA), rather than any major company news today. The Nasdaq is up 0.81%, the S&P 500 has gained 0.60%, and technology is leading sectors with a 1.18% gain.
Cooler PCE Inflation Data Drives Rebound
According to BEA data released Wednesday, the personal consumption expenditures (PCE) price index grew 0.3% month over month in August, below economists’ estimates of 0.4%. Headline PCE inflation held at an annual rate of 3.4%, lower than the 3.7% consensus.
Following the release, the CME FedWatch tool indicated traders see a 52.9% probability that the Federal Reserve keeps interest rates unchanged at 3.75%-4% on Oct. 28, alongside a 47.1% chance of a quarter-point hike.
Cooler-than-expected inflation can support tech stocks by reducing expectations for higher interest rates, easing pressure on growth-oriented companies’ valuations.
AI Acquisition Announcement
The market advance follows an announcement Tuesday, when Salesforce signed a definitive agreement to buy AI customer research platform Listen Labs.
Technical Analysis
From a trend perspective, CRM is still in a constructive longer-term setup: it’s trading 7.2% above its 50-day SMA and nearly 20% above its 100-day SMA, with a golden cross that formed in September (50-day SMA above the 200-day SMA). The near-term tension is that it’s also trading 4.6% below its 20-day SMA, which often acts like a "line in the sand" for short-term momentum.
RSI is the cleaner momentum read right now, sitting at 50.03, which signals neutral conditions rather than an overbought or oversold stretch.
Key levels are fairly well-defined given the recent swing structure (swing low in July, swing high in September) and the prior breakdown noted in August. Bulls generally want to see follow-through that keeps the stock above its intermediate trend gauges, while bears will watch for failures that push it back toward the lower end of its recent range.
- Key Resistance: $268.50 — sits just under the 52-week high area ($269.11), a zone where rallies can stall
- Key Support: $190 — a prior demand area that lines up with the broader post-June recovery zone
CRM Stock Price Activity: Salesforce shares were up 1.85% at $229.47 at the time of publication on Wednesday, according to Benzinga Pro data.
Photo: NYCStock / Shutterstock.com
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
