Oracle's AI Gains Offset Middle East Tensions
Oracle's robust AI-driven cloud services revenue lift the S&P 500 and Nasdaq, even as Boeing shares slump due to a crash incident. Tensions in the Middle East persist amid nuclear talks. U.S. market sees a mix of gains with a focus on upcoming rate decisions and Trump’s trade negotiations.
Oracle led a tech rally on Thursday, with shares soaring nearly 14% following an optimistic revenue forecast linked to its AI-driven cloud services. This rise boosted both the S&P 500 and Nasdaq, counteracting concerns arising from Middle Eastern tensions and a Boeing crash in India.
Boeing saw a 5% decline after an Air India accident claimed over 200 lives, highlighting potential maintenance or equipment issues. Meanwhile, intensifying Middle East tensions weighed heavily. President Trump's strategic personnel moves and upcoming nuclear talks with Iran in Oman underscore the volatility.
In markets, the Dow dipped slightly, while information technology stocks bolstered broader gains. Despite a mixed landscape, softer-than-expected economic data eased worries about inflation and supported rate cut expectations. Investors anticipate stable rates next week amid trade deal hopes, with the tech-heavy Nasdaq nearing record highs.
(With inputs from agencies.)
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