Overview
- The S&P 500 and Nasdaq set new records in morning trade before a mixed close that left only the Nasdaq at a fresh high, reflecting rising confidence in near-term easing by the Federal Reserve.
- Market odds now favor a quarter-point rate reduction next week with the potential for additional cuts this year, even as valuation worries linger on Wall Street.
- Inflation signals stayed uneven as CPI edged higher and PPI fell, and gold notched record highs as geopolitical tensions boosted safe-haven demand.
- Oracle jumped more than 22% on cloud and AI momentum alongside reports of a potential OpenAI tie-up, while Synopsys sank about 29% after a weak quarter and guidance cuts; Rubrik slipped despite strong growth as competition concerns weighed.
- Wearable Devices soared roughly 815% after a patent win, modest revenue and an $8 million direct offering, and Nebius rallied on reports of a multi‑billion‑dollar Microsoft AI infrastructure deal expected to generate about $3.5 billion annually with a $3 billion raise planned.