US markets ended higher Thursday after a period of weakness. Stocks rose in Oracle which boosted tech stocks and an inflation report was positive.
S&P 500 closed 0.38% higher. Dow Jones grew by 0.24%. Nasdaq, which is dominated by tech stocks, closed the day 0.24% higher.
Market Movers
Oracle’s shares rose 13% in the morning session, reaching their all-time highest level after beating expectations for the fourth quarter.
Also, the company projected $67 Billion for next year. Cloud infrastructure revenues are also expected to increase by 70% in FY26.
Newmont Corporation, Vistara Corporation, and other companies with gains of more than 4 percent were also among the best performers.
Microsoft, Nvidia and Broadcom shares all ended in green. The first three gained more than 1%.
Boeing shares dropped more than 4% after a crash near a residential neighborhood in which a Dreamliner 787 of Air India, bound for London, crashed.
This is India’s deadliest air crash in many decades.
It is the first fatal Boeing 787 Dreamliner crash, adding further pressure to a recovering company.
This accident could be a setback for the company as it prepares to attend the Paris Air Show. The event is usually marked by the large orders of commercial aircraft.
Coinbase Global and Warner Bros Discovery were the two biggest losers in this session, as both stocks lost more than 3%.
Concerns about Fresh Trump
Donald Trump, the US president, raised new concerns when he announced that he would impose unilateral tariffs on trading partners in two weeks.
Trump stated on Wednesday he would be open to an extension of the deadline set for July 8, 2018 in order to conclude trade negotiations with major partners. However, he suggested that extensions may not be necessary.
Trump said that US has made deals with China and are currently in negotiations with Japan, South Korea and many other countries.
The framework of future discussions was developed during the talks between US officials and Chinese officials in London this past week.
Treasury Secretary Scott Bessent said that 18 major U.S. trading partners who are currently “negotiating with good faith” could also be granted an extension of 90 days on the reciprocal tariffs.
Middle East tensions
The market’s sentiment was also affected by the rising uncertainty in the Middle East.
The US is moving its personnel out of the Middle East because it believes that the region poses a danger to US citizens.
Trump stated that the US would not permit Iran to possess its own nuclear weapon. The two countries will meet again on Sunday to continue nuclear discussions.
The markets also digested new economic statistics.
After a decline of 0.2% in April, the May Producer Price Index — an indicator of final demand price — only rose by 0.1%.
The economists expected an increase of 0.2%, which confirms that the inflationary pressures are still muted.
The post US Markets Close Higher Powered by Oracle and Boeing Struggles may be updated as new developments unfold.
