The Daily Breakdown takes a closer look at silver prices, which have doubled in 2025, then dives into Salesforce’s earnings beat.
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What’s Happening?
Equities continued their recovery on Wednesday, bouncing back from the recent dip. The rally was broad-based, with the Dow (+0.9%) and the Russell 2000 (+1.8%) leading the way. 9 out of 11 S&P 500 sectors closed higher — led by financials, biotech, and energy — contributing to an overall solid rebound across various markets, including crypto and precious metals.
Crypto Gains Momentum
Bitcoin has staged a quick comeback, climbing 11% from its low earlier this week. Following Tuesday’s ~6% surge and yesterday’s 2.4% gain, BTC is now hovering in the low $90Ks, driving its market cap back toward $2 trillion. This strength has also fueled gains of more than 10% from the week’s low for other cryptocurrencies like Ethereum, Solana, and Stellar.
Silver Soars
Silver is experiencing a significant surge, with prices reaching record highs and the SLV ETF consequently soaring. The metal is currently on a seven-day winning streak, closing yesterday 20% above its price from its last down day on Friday, November 21st. Though prices are pulling back alongside gold this morning, silver has demonstrated major momentum, prompting speculation on its sustainability and whether gold will follow suit.
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The Setup — Salesforce
Salesforce reported earnings on Wednesday, with earnings of $3.25 a share beating expectations of $2.58 a share, while revenue of $10.26 billion missed estimates of $10.27 billion. Further, revenue guidance for next quarter came in above analysts’ expectations. To refresh your memory on CRM’s business, check out our Deep Dive.
Technical investors might note that the stock continues to find support in the $220 to $235 region, along with the 200-week moving average. However, the rallies have continued to stall. In order for investors to gain confidence in CRM, bulls need to see shares clear the $260 area and start to form some higher lows, showing that some sort of uptrend could be taking hold. In the meantime though, support must continue to hold. If CRM breaks below $220, it could reaccelerate the bearish momentum.
Options
Investors who are bullish could consider calls or call spreads as one way to speculate on upside, while bearish investors could consider puts or put spreads to speculate on a move to the downside. For options traders, it may be advantageous to have adequate time until the option’s expiration.
To learn more about options, consider visiting the eToro Academy.
What Wall Street’s Watching
Shares of Uber continue to rebound from key support, with shares climbing more than 4% last week and gaining more than 3% yesterday. Now trading near $90, bulls want to know if the rebound will be short-lived, or if Uber can continue with its recent momentum, putting the recent highs near $100 back in play. Check out the charts for UBER.
It’s a cold morning for Snowflake investors, with shares down around 8% in pre-market trading. That’s despite the firm beating on earnings and revenue expectations, and providing pretty solid guidance. However, some have been critical of the stock’s valuation. Dig into the fundamentals for SNOW.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.