Salesforce reported second-quarter results showing revenue up 11% year over year to $11.35 billion and net income up 87% to $3.53 billion, beating market expectations. Free cash flow climbed 81% to $1.1 billion, also topping forecasts. The company raised its full-year outlook, and CRM shares surged more than 20% on the day.

The buildout of AI data centers is driving a surge in electricity demand, and natural gas could be a major beneficiary. Shares of EQT, the largest natural gas producer in the U.S., have pulled back 11% recently, leaving the stock at a price-to-earnings ratio of 13 versus a historical average of 34. Last quarter, the company’s capital spending came in 9% below the low end of guidance while production exceeded its outlook, pointing to improved operating efficiency. The U.S. Energy Information Administration expects natural gas output to rise about 15% this year, and EQT accounts for 6% of total U.S. production as a core producer in the Appalachian Basin.

Zinc prices pulled back from a four-year high, even as London Metal Exchange spreads pointed to tighter near-term supply. The cash-to-three-month premium on the LME at one point neared $200 a ton, the widest since December, while the Tom-next spread rose to about $13 a ton, the highest since March. Treatment charges paid by miners to smelters have fallen to as low as minus $110 a ton, highlighting constraints in ore supply.

Hims & Hers’ user base is approaching 3 million as growth in the U.S. accelerates again. International revenue has reached $131 million, emerging as a second growth engine. Testosterone is on track to become the company’s sixth U.S. specialty with an annual run rate above $100 million. Gross margin slipped to 64% and Q2 free cash flow was negative $68 million, putting operating leverage in focus.

Semiconductor stocks are leading the market’s advance amid the AI boom, with Nvidia shares jumping 9% after earnings topped expectations and Micron Technology up 220% over the past year, putting it among the S&P 500’s top 10 companies. Chip stocks have driven 37% of the S&P 500’s gains this year, and chips and hardware make up nearly 45% of the Nasdaq 100’s rise. Meanwhile, traditional tech heavyweights such as Microsoft are down about 6% from last year’s highs, underscoring a widening split inside the tech sector even as indexes climb.

U.S. wheat futures extended gains on Thursday, with Chicago soft red winter wheat, Kansas City hard red winter wheat and Minneapolis spring wheat contracts broadly higher, while winter wheat reached 3-year highs. Kansas City and Chicago wheat markets widened daily trading limits to 70 cents, signaling higher volatility risk. September and December CBOT wheat were priced at $7.40 and $7.57 1/2, while the same-month KCBT contracts were at $8.02 1/4 and $8.20.

Hyperliquid’s HYPE token rose 5.09% over the past 24 hours to $85.33, while Hyperliquid Strategies (PURR) shares gained 19.64% to $13.83. The company raised about $646.6 million through equity financing in the fiscal year ended June 30, issuing PURR at an average price of $8.70. By August 19, it had deployed roughly $773.4 million to buy HYPE tokens and repurchase shares, including about 16.5 million HYPE bought at an average price of $46.77.

The EU Sugar Market Observatory projects EU 2026/27 sugar production will fall 19% year on year to 13.4 million tons. India’s Meteorological Department said cumulative monsoon rainfall through August 26 was 13% below normal. An industry group forecasts 2027/28 global sugar output will decline 0.7% to 177 million tons due mainly to weather disruptions in India, the EU and Thailand, while global sugar consumption is seen rising 0.4% to a record 179.991 million tons.