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Markets were generally flat overall on this first trading day of the week. Without much by way of new material on which to ruminate, we’ve seen sectors that had outperformed in previous sessions get hit a little harder today. The Dow finished in the green, albeit slightly: +0.12%, while the S&P 500 provided a mirror image: -0.11%. The Nasdaq and the small-cap Russell 2000 finished the day lower by -0.41% and -0.81%, respectively.
Meanwhile, the Bitcoin rally continues, with new highs being posted yet again today. As of now, a reported $20 billion has been invested into Bitcoin ETFs, which has come at exactly the right time for this overall market rally that started in tech a year ago on the promise of an A.I. technology boom, and shows how growth is becoming more widespread among asset classes, like Bitcoin. Year-to-date, Bitcoin trading is up +69.3%, and +3.7% today alone.
Tomorrow morning, new Consumer Price Index (CPI) figures for February come out. Last month, hotter-than-expected CPI numbers were beaten up by market participants, and causing an overall sell-off in the crypto market and the markets at large. This time, what’s expected is a 20-basis-point (bps) drop in headline core CPI, year over year, to +3.7%. This is still a ways off from the Fed’s optimum +2% inflation target, but more than -40% below September 2022 highs. A 20 bps drop would constitute an in-line move with cooling economic prints in a more general sense. Anything hotter or colder than that will get a long look Tuesday.
Software giant Oracle (ORCL - Free Report) came out with fiscal Q3 earnings after today’s closing bell, with narrow beats on both top and bottom lines in the quarter. Earnings of $1.41 per share outperformed expectations by 4 cents, on $13.28 billion in revenues which was a smidge ahead of the Zacks consensus $13.27 billion. License support revenues grew $10 million, while the company looks toward cloud structure contracts to bolster its business. Share are up +8% in late trading following the news, nearly doubling year-to-date growth.
Image: Bigstock
Oracle (ORCL) Beats; Markets Mixed, Cool
Monday, March 11th, 2024
Markets were generally flat overall on this first trading day of the week. Without much by way of new material on which to ruminate, we’ve seen sectors that had outperformed in previous sessions get hit a little harder today. The Dow finished in the green, albeit slightly: +0.12%, while the S&P 500 provided a mirror image: -0.11%. The Nasdaq and the small-cap Russell 2000 finished the day lower by -0.41% and -0.81%, respectively.
Meanwhile, the Bitcoin rally continues, with new highs being posted yet again today. As of now, a reported $20 billion has been invested into Bitcoin ETFs, which has come at exactly the right time for this overall market rally that started in tech a year ago on the promise of an A.I. technology boom, and shows how growth is becoming more widespread among asset classes, like Bitcoin. Year-to-date, Bitcoin trading is up +69.3%, and +3.7% today alone.
Tomorrow morning, new Consumer Price Index (CPI) figures for February come out. Last month, hotter-than-expected CPI numbers were beaten up by market participants, and causing an overall sell-off in the crypto market and the markets at large. This time, what’s expected is a 20-basis-point (bps) drop in headline core CPI, year over year, to +3.7%. This is still a ways off from the Fed’s optimum +2% inflation target, but more than -40% below September 2022 highs. A 20 bps drop would constitute an in-line move with cooling economic prints in a more general sense. Anything hotter or colder than that will get a long look Tuesday.
Software giant Oracle (ORCL - Free Report) came out with fiscal Q3 earnings after today’s closing bell, with narrow beats on both top and bottom lines in the quarter. Earnings of $1.41 per share outperformed expectations by 4 cents, on $13.28 billion in revenues which was a smidge ahead of the Zacks consensus $13.27 billion. License support revenues grew $10 million, while the company looks toward cloud structure contracts to bolster its business. Share are up +8% in late trading following the news, nearly doubling year-to-date growth.
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