S&P 500 Rides Mega-Cap Earnings Wave from CRWD, CRM

Record-breaking earnings from CrowdStrike sent shares sharply higher, with Wall Street banks including Jefferies lifting price targets, adding a fresh tailwind to broad index sentiment heading into the close of August.

Salesforce's stock surged roughly 20% after its results showed enterprise software demand holding firm alongside AI adoption, a signal that lifted the wider software complex and reinforced risk appetite across S&P 500 constituents.

With Nvidia's post-earnings surge and speculation over its path toward $1 trillion in annual revenue also circulating, mega-cap tech strength continues to be the primary driver behind the index's resilience, even as some analysts question how much further upside individual names like Marvell can realistically offer.