Is a Fed rate cut a done deal for September? Plus, what's driving Oracle's stock surge

Market Overview - The market is currently mixed, with the Dow down approximately 200 points, the S&P 500 up nearly 0.3%, and the NASDAQ roughly flat [1] - The bond market has resumed its downward trend, with the 10-year Treasury yield approaching 4.03% and the 30-year at 4.68% [1] - Utilities and tech sectors are outperforming, each up more than 1.6%, while consumer discretionary and healthcare sectors are lagging [1] Oracle's Performance - Oracle's stock surged nearly 40% following a strong quarterly earnings report, with cloud revenue expected to skyrocket [8][10] - The company's backlog of orders increased by 77% in one quarter, potentially exceeding $500 billion [9][10] - Year-to-date, Oracle's stock has nearly doubled, reflecting a significant transformation into a leader in AI infrastructure [8][34] Federal Reserve Developments - President Trump's nominee for the Federal Reserve Board, Steven Myron, is likely to be confirmed, raising concerns about central bank independence [1][2] - The Senate Banking Committee voted along party lines to advance Myron's nomination, with a full Senate vote expected soon [1][2] - Investors anticipate a 25 basis point rate cut at the upcoming Fed meeting, with discussions about potentially ending quantitative tightening [2][4] IPO Market Activity - The IPO market is experiencing a resurgence, with several companies, including CLA, making their public debuts [5][6] - The favorable environment for IPOs is attributed to the prospect of rate cuts and low market volatility [5] - Companies are increasingly focusing on demonstrating profitability and AI strategies to attract public market investors [6] Other Company Insights - Rocket Companies received an upgrade from Bank of America, with expectations that lower rates will benefit mortgage activity [12] - Nike's stock was upgraded by TD Cowan, citing improvements in brand loyalty and operational execution [15][17] - The tech sector continues to see significant movements, with companies like Nvidia and Broadcom also showing strong performance [1][8]