Overview

• Oracle jumped about 36% after flagging a surge in AI-driven demand for its cloud services, its biggest one-day gain since 1992.
• The S&P 500 rose 0.3% and the Nasdaq edged up 0.03% to fresh closing highs, while the Dow fell 0.5%.
• AI chipmakers and data-center power suppliers rallied, with Nvidia up 3.8%, Broadcom up 10%, AMD up 2.4%, and Constellation Energy, Vistra and GE Vernova gaining more than 6%.
• A cooler-than-expected August producer price reading bolstered expectations for a Fed cut next week, with CME FedWatch showing traders fully pricing at least 25 basis points and some odds of 50.
• ASX 200 futures pointed down roughly 0.2%, signaling a lower open for Australian shares.