Salesforce (NYSE:CRM) led enterprise software stocks higher on Monday as the major composites and indices increased across the board.
Shares of Salesforce jumped 4.6% by the time the market closed.
Workday (NASDAQ:WDAY) increased 3.3%, while Atlassian (NASDAQ:TEAM) climbed 4.5%. The software giant Microsoft (MSFT) inched up 0.5%. SAP SE (NYSE:SAP) shares increased 1.7%. IBM (IBM), which is set to release its third-quarter financial results post-market on Wednesday, edged 0.8% higher. ServiceNow (NYSE:NOW) increased 1.7%, and Monday.com (MNDY) gained 2.5%. Appian Corporation (APPN) closed 3.7% higher.
Palantir Technologies (NASDAQ:PLTR) gained 2%, following its recent partnership with Snowflake (SNOW) to integrate Snowflake’s AI data cloud with Palantir’s Foundry and AIP platform.
However, software company and hyperscaler Oracle (ORCL) dropped 5% by the end of the trading day.
Cybersecurity companies mostly finished in the green as well. CrowdStrike (NASDAQ:CRWD) gained 3.9% while Palo Alto Networks (PANW) and CyberArk (CYBR) both increased by 2%. Fortinet (FTNT) and Zscaler (ZS) both increased by about 1.6%.
Wall Street closed in the green on Monday, ahead of a pivotal earnings week and the anticipated retail inflation report. The Nasdaq Composite (COMP:IND), the S&P 500 (SP500) and the blue-chip Dow (DJI) all increased more than 1% by the closing bell.