U.S. stocks closed mixed on today’s trading session. The Dow Jones Industrial Average, which tracks 30 prominent blue-chip corporations, rose 0.41% to end at 51,983.98 points. In contrast, the broader S&P 500 slipped 0.51% to 7,541.40 points, while the tech-heavy Nasdaq Composite slid 1.07% to close at 25,164.32 points.
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U.S. Stocks Face Tech Drag as Oracle Slumps on $20 Billion AI Debt Plan
E-commerce giant Amazon and electric automaker Tesla both recorded gains during the session. However, shares of enterprise software maker Oracle tumbled nearly nine percent following reports that the company intends to raise $20 billion through equity and bond sales to finance massive capital expenditures in artificial intelligence infrastructure and cloud services.
Market participants are now closely eyeing upcoming quarterly earnings reports from other major American corporations. High-profile reports scheduled for later this week include tech heavyweight Apple and semiconductor maker Advanced Micro Devices (AMD). Investor attention is equally focused on Tuesday’s U.S.congressional midterm elections.
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U.S. Stocks and Currency Markets React as Falling Oil Weakens the Dollar
The U.S. dollar weakened against the euro, weighed down by a sharp retreat in global oil prices. Shortly after 10:00 PM CET, the European single currency was trading roughly 0.3% higher against the greenback, hovering just below 1.12 USD. Crude benchmarks fell substantially amid growing optimism that diplomatic negotiations to conclude the Israeli-American conflict with Iran could restore crude flows from the Middle East. “Oil prices are coming down,which makes the market slightly more risk-friendly and slightly more negative toward the dollar,” noted Kit Juckes, foreign exchange strategist at Société Générale, according to Reuters.
The euro’s advance held firm despite credit rating agency Fitch revising France’s sovereign debt outlook from stable to negative on Friday. France currently faces surging borrowing costs and widespread domestic unrest,further complicating government efforts to consolidate public finances.
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Source: ČTK
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