U.S.Stocks Rise on Positive Tech Earnings and Inflation Data
U.S. stocks saw gains on Thursday, driven by positive tech earnings and softer inflation numbers. The S&P 500 climbed 0.38%, closing at 6,045.26, just 2% below its peak. the tech-heavy Nasdaq Composite rose 0.24%, and the Dow Jones Industrial Average gained 0.24%, or 101.85 points, to 42,967.62.
Investors were encouraged by Oracle’s strong earnings report.
Oracle’s stock surged 13% after it reported better-than-expected quarterly results. The company projects over 70% growth in cloud infrastructure revenue next year, driven by rising AI demand. this positive news lifted the broader tech sector and contributed to market gains.
Despite a 4.8% drop in Boeing shares following a 787 Dreamliner crash in India, investor sentiment remained positive. Treasury yields eased, and softer economic data suggested potential Federal Reserve policy easing. The May producer price index rose just 0.1%, below expectations, and jobless claims showed signs of labour market softening.
Trade tensions are still a concern,but President Trump signaled progress with China and other key partners. Expectations for a rate cut later this year have grown as investors interpret the weaker inflation and labor data as giving the Fed more room to ease without stoking price pressures. the 10-year note dipped below 4.4%, reflecting these expectations.
the market appears cautiously optimistic, with strong tech earnings and softer inflation data offsetting trade uncertainty and sector-specific losses.
