US Stocks Rise on Columbus Day as Salesforce Surges on Upgrade and Crude Oil Tests $105

US equity markets opened higher Monday on Columbus Day, with S&P 500 futures up 0.3% and Nasdaq futures in positive territory, even as bond markets stayed shut per SIFMA holiday recommendations. Traders entered the week without real-time Treasury yield signals, leaving equity sentiment to be driven largely by individual corporate catalysts and a backdrop of elevated crude oil prices.

Salesforce led the premarket movers, rising roughly 4% after Bank of America issued a double upgrade to buy from underperform, arguing that artificial intelligence should deepen rather than disrupt corporate dependence on the software platform. Biogen added about 2% after JPMorgan upgraded the stock to overweight from neutral, citing several anticipated clinical readouts in 2027 as catalysts. Bristol-Myers Squibb gained ground following positive Phase 3 data for its multiple myeloma drug ZENBEXUS (iberdomide). First Tracks Biotherapeutics, a clinical-stage spinoff from AnaptysBio focused on autoimmune and inflammatory diseases, also surged in early trading. Other notable gainers included AST SpaceMobile, IREN, CCC Intelligent Solutions, Butterfly Network, Contineum Therapeutics, Manhattan Associates, ServiceNow, Shopify, CrowdStrike, and Meta Platforms.

Energy markets were a central macro concern. December Brent crude consolidated near $104 per barrel after spiking toward $106 earlier in the session, driven by reports of weekend escalation in Middle East geopolitical tensions. By the Indian market close, Brent had crossed above $105. The oil move weighed on energy-importing economies: India's Nifty 50 fell 157.10 points, or 0.70%, to close at 22,363.35, and the Sensex shed 547.65 points, or 0.76%, to 71,924.68. Foreign portfolio investors pulled more than 44,000 crore rupees from Indian equities in October alone, with FMCG and PSU banks leading sectoral declines of 1.67% and 1.18% respectively.

Looking ahead, Wall Street attention was focused on Q3 earnings reports from JPMorgan Chase, Goldman Sachs, Citigroup, and Bank of America later in the week, alongside midweek US CPI inflation data that analysts flagged as the next major macro catalyst.