Market sentiment improves as WTI crude slips below $100 and Treasury yields retreat, while Oracle shares rally on strong cloud revenue results.
WTI crude dropped below $100 a barrel after IEA warned of worsening demand outlook.
Oracle reported stronger-than-expected FQ1 cloud infrastructure revenue, signaling AI data center investments are paying off.
Intel fell over -5% yesterday as chip and AI infrastructure stocks slid amid sticky inflation and rate hike bets.
S&P 500 E-Mini futures are up +0.57% as oil prices and bond yields retreat ahead of key inflation data.
Novo Nordisk fell over -2% after Morgan Stanley downgraded the stock to Underweight.
Nvidia CEO called CrowdStrike its top security partner, potentially boosting sentiment and investor interest.
Positive partnership mention by CEO regarding CrowdStrike may reflect well on Nvidia's security ecosystem.
S&P 500 E-Mini futures are trading higher by 0.57% as a pullback in oil prices and bond yields provides a reprieve for equity markets. Investors are now bracing for critical U.S. inflation data, which will serve as a primary indicator for the Federal Reserve's upcoming interest rate policy decisions.
The August consumer inflation data is expected to provide clarity on whether the Federal Reserve will implement a 25-basis-point rate hike or maintain current levels at its next meeting.