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Stocks go Plus as Oracle Leads Tech Charge
- The S&P 500 closed higher on Thursday boosted by Oracle's rally and the big tech sector.
- The Dow Jones Industrial Average gained 101.85 points to 42,967.62, while the broader index rose 23.02 points to 6,045.26.
- The NASDAQ Composite increased by 46.61 points to 19,662.49.
- Oracle's shares surged 13% after reporting strong fiscal fourth-quarter results and predicting more cloud growth.
- CEO Safra Catz mentioned that cloud infrastructure revenue could rise more than 70% in fiscal year 2026.
- Amid Oracle's rally, big tech stocks were lifted, leading the S&P 500 higher on Thursday.
- On the other hand, Boeing declined nearly 5% after an Air India Dreamliner 787 crashed after takeoff.
- Stocks rose as the May producer price index in the U.S. increased by 0.1% following a 0.2% decrease in April.
- Investors are awaiting further trade policy developments, particularly between the U.S. and China.
- Trump expressed willingness to extend trade talks deadlines before higher U.S. levies take effect.
- U.S. and Chinese officials reached a framework for future talks in London, including easing some restrictions.
- The 10-year Treasury prices increased, causing yields to fall to 4.36%.
- Oil prices remained stable at $68.14 U.S. a barrel.
- Gold prices rose to $3,408.80 U.S. an ounce, gaining $64.80.
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