US EditionWall Street ticks toward more records as inflation slows and Oracle soars
Oracle's stock surged 34.8% after reporting AI-driven revenue growth of 1,529% from major cloud partners, fueling optimism for rapid expansion in AI infrastructure services.
- On Wednesday, futures tied to the S&P 500 touched a record high as investors awaited Producer Price Index data, with Oracle Corp.'s rally boosting AI-related stock momentum.
- Traders priced in an at least 25-bps cut at the Federal Reserve meeting, with bets on a 25-basis-point cut standing at 90% after a downward payrolls revision and softer wholesale inflation.
- Oracle reported a 1,529% revenue surge from Amazon, Google, and Microsoft channels, with CEO Safra Catz noting four multi-billion dollar contracts, boosting shares 34.8%.
- The market responded with the S&P 500 rising 0.5% and the 10-year Treasury yield easing to 4.05% as AI infrastructure suppliers and chipmakers boosted the rally.
- With key inflation reads due Thursday, traders will watch the Producer Price Index first and then the Consumer Price Index on Thursday for confirmation that disinflation is intact, while money markets project further quarter-point cuts this year.
42 Articles
42 Articles
Sydney Morning Herald
The AgeASX set to slide lower, Wall Street advances as inflation slows; Apple falls
Wall Street is heading for more records following a surprisingly encouraging report on inflation and a stunning forecast for growth from Oracle because of the artificial-intelligence boom.
US Stocks Set to Push Higher as Oracle Soars: Markets Wrap
(Bloomberg) -- US stocks are set to notch fresh highs as Oracle Corp. surges on a blowout outlook and traders bet that a pair of inflation reports won’t deter the Federal Reserve from cutting interest rates.
S&P 500 futures hit record high ahead of inflation data; Oracle jumps
(Reuters) -Futures tied to the S&P 500 touched a record high on Wednesday, driven by a surge in cloud firm Oracle, as investors awaited producer prices data due later in the day for insights into U.S. inflation. Oracle soared nearly 29% in premarket trading after it said it expected booked revenue at its Oracle Cloud Infrastructure business to exceed half a trillion dollars, as demand for its low-cost cloud infrastructure services grew. Some chi…
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
