Stock futures climbed to fresh record highs driven by Oracle’s pre-market performance. The cloud computing giant has soared over 30% higher after projecting that its Oracle Cloud Infrastructure business will exceed half a trillion dollars in booked revenue. This bullish outlook rippled through the semiconductor and infrastructure sectors, lifting Nvidia, AMD, Broadcom and data center power firms like Constellation Energy, Vistra, and GE Vernova.
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At the same time, Barclays raised its year-end S&P 500 target from 6,050 to 6,450, citing robust corporate earnings, economic resilience, and renewed optimism toward AI. The firm now sees S&P 500 earnings per share hitting $268 in 2025 and forecasts the index reaching 7,000 by the end of 2026.
Financial markets are also preparing for key U.S. inflation data, with investors closely watching today’s Producer Price Index and tomorrow’s Consumer Price Index readings, which will be crucial in determining the scale of the Federal Reserve’s next move. While traders fully price in a 25 basis-point cut at the policy meeting next week and even assign an 8% chance to a larger, 50 basis-point cut, sticky inflation could derail aggressive easing expectations.
In pre-market trading, S&P 500 futures rose 0.51%, Nasdaq futures rose 0.55% and Dow futures rose 0.02%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
HIGHER –
- Joby Aviation (JOBY) up 8% after the company and Uber (UBER) announced they plan to bring Blade’s air mobility services to the Uber app as soon as next year
- Bill (BILL) up 6% after Financial Times reported Paul Singer’s activist hedge fund Elliott Management has built at least a 5% stake in the company
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