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LivestreamMenuStocks eked out a weekly gain on Friday, as traders weighed fresh in-line core inflation reading and blockbuster earnings report from Nvidia against persistent tensions in the Middle East. Some names, however, might have moved too far, too fast. The S & P 500 was up 0.5% on the week, with Nvidia’s outsized revenue growth projections for fiscal 2028 spilling over into the broader chip sector and lifting memory stocks. The rise lifted some components of the index into overbought territory, as measured by the relative strength index (RSI), a momentum indicator that tracks the speed and size of price changes. Stocks are considered overbought when their RSI exceeds 70. Here are the stocks that met that criteria and were also up more than 5% on the week. Shares of marketing software company Salesforce surged roughly 22% on the week, propelled by a beat-and-raise quarter and a new partnership with large language model maker Anthropic. The company’s announcement with Anthropic helped it shed AI-triggered concerns about a general decline in the viability of the software sector that dogged the stock for the first half of the year. “This ‘Saas-pocalypse’ narrative has been such nonsense,” Salesforce CEO Marc Benioff told CNBC this week. “Skeptics said customers are going to leave, and attrition is near its lowest level ever.” Processed foods maker J.M. Smucker also reported a beat-and-raise with net sales up 5% and a 71% increase in adjusted earnings per share, including an 84-cent uptick from tariff refunds. “On pricing specifically, it’s a mixed bag. We have seen costs moderate on coffee, and we have been able to pass along some price relief on our coffee business, and that has also been supportive of our volume during the quarter,” CEO Mark Smucker said .Read More
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