ORCL Spikes 30% Post-Earnings

U.S. stock futures are mixed in premarket trading after the S&P 500 and Dow Industrials settled at record highs on Tuesday.

Tech is getting a boost from Oracle (ORCL) post earnings which is spiking over 30% after it raised its remaining performance obligations.

Investor focus turns to inflation data with the PPI due this morning and the CPI out tomorrow.

Morning Movers

Snapshot (as of 7AM ET)

  • Oil (/CL) – Oil prices are up 0.9% near $63.20 a barrel after Israel attacked Hamas leadership in Qatar and U.S. President Donald Trump asked Europe to impose tariffs on buyers of Russian oil, but a weak market outlook capped gains.

  • Gold (/GC) Gold prices are up 0.3% near $3695, just below yesterday’s all-time high above $3700, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were also on investors’ radar.

  • Bitcoin (/BTC)The Crypto Future is up 0.9% near 112,700 in premarket trading.

  • VIX The CBOE Volatility Index was down 0.5% on Tuesday and settled at 15.04 as stocks were modestly higher.

  • U.S. Dollar (/DX) – The dollar is flat at 97.8.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7AM ET)

ORCL

Oracle

+32.50%

AMD

Advanced Micro Devices

+3.68%

GEV

GE Vernova

+3.27%

SNPS

Synopsys

-22.74%

CDNS

Cadence Designs

-4.39%

FITB

Fifth Third Bancorp

-2.25%

Economic Data

Time

Event

7:00AM ET

MBA Mortgage Applications

8:30AM ET

PPI

10:00AM ET

Wholesale Inventories

10:30AM ET

Oil Inventories

1:00PM ET

10-Year Note Auction

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

CHWY

OXM

KR, LOVE

ADBE, RENT

Upgrades/Downgrades

  • BofA upgrades Oracle (ORCL) to Buy from Neutral

  • TD Cowen upgrades Nike (NKE) to Buy from Hold

  • BofA upgrades Rocket Companies (RKT) to Buy from Neutral

  • Morgan Stanley downgrades The Trade Desk (TTD) to Equal Weight from Overweight

  • Evercore ISI downgrades HP Inc. (HPQ) to In Line from Outperform

  • BofA double downgrades Synopsys (SNPS) to Underperform from Buy

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