Trading Day: Inflation cools, Oracle on fire

Company Insights - Oracle expects its Cloud Infrastructure business to exceed $500 billion in booked revenue, with shares trading at nearly 50 times estimated 12-month forward earnings, the highest since the dotcom crash [1] - Oracle's share price surged by 43%, raising discussions about the AI bubble and positioning the company close to a $1 trillion market cap [2] Market Performance - The S&P 500 and Nasdaq reached new highs but later gave back gains, while the Dow and Russell 2000 fell [3] - Oracle's stock jumped 43%, and Klarnan saw a 30% increase in its NYSE debut, while Apple shares declined by 3.2% [3] Economic Indicators - U.S. producer price inflation figures were surprisingly soft, leading to speculation about a potential half-percentage point cut in U.S. interest rates, which contributed to Wall Street's new highs and lower bond yields [5] - The dollar index ended flat, with the Brazilian real climbing significantly while the Polish zloty faced declines [3]