Oracle a leader of growth on Wall Street. S & P500 with the highest closing course since February
The Thursday session at Wall Street ended with light increases in the main indexes, and the leader of the increases was the Oracle technology group. Investors were pleased with the latest data from the American economy. On the other hand, the uncertainty related to the US tariff policy is still a shadow.
Dow Jones Industrial at the closure increased by 0.24 percent. and amounted to 42,967.62 points S&P 500 gained 0.38 percent at the end of the day and amounted to 6.045.26 points This is the highest closing course from February 20. Nasdaq Composite increased by 0.24 percent until 19,662.49 points The index of companies with medium capitalization Russell 2000 drops by 0.42 percent. and amounted to 2,139.25 points The VIX index grows by 4.40 percent, to 18.02 points
Oracle shares increased by 13 percent After the company announced the results for the fourth fiscal quarter, which beat the expectations of analysts at the level of profit and revenues. CEO of Oracle Safra Catz said during a teleconference that thanks to the demand for artificial intelligence, revenues from cloud infrastructure should increase by over 70 percent. In the fiscal year 2026, compared to an increase of 52 percent. in the quarter.
The Oracle rally raised actions of other large technology companies, and this sector led the S&P 500 growth on Thursday.
On the other hand, the Boeing in the index of the index fell by almost 5 percent. After the Dreamliner 787 Air India aircraft crashed right after the start with 242 passengers on board.
Wall Street is waiting for further events in trade policy, especially between the USA and China, because the talks between these two countries were the focal point of this week. President Donald Trump said on Wednesday that he would be willing to extend the date of July 8 at the end of commercial talks with countries before the higher duties of the USA came into force, but these extensions may not be necessary.
– I would do it, but I don't think we had such a necessity. We have concluded a great agreement with China – Trump told reporters. – We are dealing with Japan, we are dealing with South Korea. We are dealing with many of them. So we will send letters, in about a week and a half, two weeks, to countries, informing them what the contract is, as I did with the EU – added the US president.
US and China officials have reached a framework for future conversations in London after two days of discussion this week, but the unclear outline of the contract is still waiting for the approval of Trump and the President of China Xi Jinping. Both countries agreed to alleviate some restrictions on the metals of rare lands and foreign students.
“We still think that the main driving force for the market direction and breaking to record levels will be to solve the issues of tariffs and their relationship with the budget and Fed. We see many headlines about negotiations, interruptions or frames, but we still have not seen a single signed trade agreement between the USA and their trading partners,” said Tom Hainlin, senior investment strategy at US Bank Asset Managment Group.
“We still see that we are in our base scenario of uncertainty as to how commercial negotiations are going on. The market has a certain range of motion, but it really lacks permanent breakage until we come to a conclusion,” he added.
Actions during the Thursday session also increased after investors received another portion of data indicating a solid state of the American economy.
The number of people applying for the unemployment benefit for the first time last week in the US amounted to 248,000. Economists expected that the number of new unemployed would amount to 242 thousand. against 248 thousand Previously, after correction with 247 thousand
The number of unemployed continuing benefit was 1.956 million a week, which ended on June 7. Analysts expected 1.910 million against previously recorded 1.902 million, after a correction from 1.904 million.
Prices of the production of the sold PPI industry in the USA in May increased by 0.1 percent. In terms of month to month, in terms of year to year they increased by 2.6 percent. After switching off food and energy prices, the PPI index increased by 0.1 percent. MDM, and RDR increased by 3.0 percent
Analysts expected PPI to increase by 0.2 percent. MDM, and after turning off food and energy prices, they expected an increase of 0.3 percent. MDM to respectively: -0.2 percent and -0.2 percent a month earlier.
In RDR, PPI growth was expected by 2.6 percent. and an increase of 3.1 percent For the base indicator, due to: +2.5 percent, respectively and +3.2 percent last month.
WTI oil on nymex in deliveries for July increases by 0.13 percent. up to USD 68.24 per barrel, and Brent on ICE loses 0.14 percent and amounts to USD 69.67 per barrel. (PAP Biznes)
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