Market Overview - All major indices closed the week with gains, with NASDAQ up nearly 2%, S&P 500 increasing by 1.5%, Dow Jones rising by 1%, and Russell 2000 adding 0.25% [1] Sector Performance - All sectors experienced gains except for consumer staples, with technology being the standout performer, rallying 3% throughout the week. Utilities also saw significant increases, closing almost 2.5% higher [1] Company Highlights - Oracle's stock surged 25% to reach all-time highs after announcing a projected 77% increase in cloud infrastructure revenue for fiscal 2026 and an 800% increase over the next four years. Additionally, Oracle signed a $300 billion deal with OpenAI [2] - Despite Oracle's strong guidance, it reported an earnings and revenue miss for the previous quarter [3] - Apple's annual product reveal received mixed responses, introducing three iPhone 17 models priced between $799 and $1,199, along with new Apple Watches and AirPods featuring live language translation. However, concerns about Apple's commitment to AI led to a 2.3% decline in its stock [3][4] - Warner Brothers Discovery's stock soared 56% following reports that Paramount Skyance is seeking to acquire the company, which includes all of Warner Brothers Discovery's assets. Paramount Skyance's stock also increased by 25% on this news [4] Upcoming Events - The Federal Reserve's interest rate decision is anticipated to influence market action next week, along with jobless claims and retail sales data. Key earnings reports are expected from FedEx, LAR, General Mills, Darden Restaurants, and the first post-IPO report from Bullish [5]
Stock Market This Week: ORCL Guidance Rally, New AAPL Products, WBD Up 56%