Core CPI, which excludes volatile food and energy
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"Although inflation has continued to decline, much of core inflation remains "sticky" and is not slowing at a pace that will give the Fed the confidence it needs to begin the easing cycle perhaps even in June," he says. Quincy Krosby
While today's data indicates that "the last leg to 2% has gotten a little bit longer," Krosby adds, it also gives hope that the Federal Reserve should feel comfortable enough to start cutting rates in June. or July.
Fed Chair Jerome Powell will likely reiterate the central bank's "data-dependent" approach to Interest rates next Fed meeting financial world They will be interested in clues about the Federal Reserve's rate cut plans.
According to the CME Group FedWatch Tool
Oracle stands out for strong cloud growth
In individual stock news, Oracle (ORCL ) rose 11.8% after the software company reported better-than-expected fiscal third-quarter earnings of $1.41 per share on online revenue of $13.3 billion. Revenue in the company's cloud services and licensing support segment, which houses its artificial intelligence (AI) servers, increased 12% year over year.
analyst William Blair Sebastian Nazi updated the tech stocks
"In our view, positive demand feedback and strong booking growth support the structural turnaround at Oracle that positions the company well for sustained acceleration in revenue growth," Naji says.
Nvidia gains $154 billion in market value after Oracle earnings
NVIDIA NVDA ) was another notable winner on Tuesday, with the Magnificent 7 actions Market cover
On the company's earnings conference call, Larry Ellison, Oracle's chief technology officer, said it signed a large cloud infrastructure deal with Nvidia in its fiscal third quarter. "Oracle's second-generation AI infrastructure business is booming," Ellison said. "That's become pretty clear to everyone."
Additionally, Oracle CEO Safra Catz hinted that "some very interesting joint announcements with Nvidia" will be released next week.
Still, market participants may have been buying the dip in one of Wall Street's hottest stocks, considering NVDA stock suffered a two-day loss of 6.1% before today's trading.
Regarding the main indices, the Nasdaq CompoundS&P 500 rose 1.1% to 5,175, and the Dow Jones Industrial Average
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