Market Performance - Major stock indices have reached new record intraday highs, with the Dow up 218.78 points (0.5%) at 47,925.15, the Nasdaq up 131.49 points (0.6%) at 23,958.99, and the S&P 500 up 14.53 points (0.2%) at 6,905.42 [1] Company Highlights - Nvidia (NVDA) has surged by 3.9%, becoming the first company with a $5 trillion market capitalization, following a 5.0% spike after announcing a $1 billion strategic partnership with Nokia (NOK) [2] - Seagate Technology (STX) has seen a significant increase of 18.7% after reporting better-than-expected fiscal first-quarter results, contributing to a 5.3% rise in the NYSE Arca Computer Hardware Index [6] Economic Indicators - The National Association of Realtors reported that pending home sales were flat in September, with the pending homes sales index unchanged at 74.8, contrary to expectations of a 1.0% increase [5] Sector Performance - Oil service stocks have surged by 2.6%, driven by a sharp increase in crude oil prices following a report of a significant drop in U.S. crude oil inventories [7] - The semiconductor, gold, and transportation sectors are also showing considerable strength, while commercial real estate stocks have declined [7] Global Market Trends - In the Asia-Pacific region, stock markets have mostly moved higher, with Japan's Nikkei 225 Index up 2.2% and South Korea's Kospi up 1.8%, both reaching new record closing highs [9] - European markets have shown mixed results, with the U.K.'s FTSE 100 Index up 0.6%, while the French CAC 40 Index and the German DAX Index are down by 0.2% and 0.6%, respectively [9]

Core Viewpoint - Citi Research has maintained a Buy rating on Micron and increased its price target to $240 from $200 [1] Group 1 - The price target increase reflects a positive outlook on Micron's performance in the semiconductor industry [1]

Core Insights - Larry Ellison has regained his position among the world's two richest individuals, with Oracle's stock reaching an all-time high following strong earnings, amidst the ongoing artificial intelligence arms race [1][3]. Stock Performance - Oracle's stock experienced a significant rally, gaining 13% on Thursday and an additional 7% on Friday, reaching approximately $215 per share [2]. - The company's market capitalization increased by $104 billion over the last two trading sessions, surpassing the total valuations of major companies like Intel and Nike [4]. Financial Results - Oracle reported stronger-than-expected profits of $1.70 adjusted earnings per share and revenues of $15.9 billion for the financial quarter ending last month, which contributed to the stock surge [5]. - The earnings update was characterized as a "watershed" moment for Oracle by Deutsche Bank analyst Brad Zelnick, highlighting the company's pivotal role in the cloud computing sector [5]. Future Outlook - Analysts predict that Oracle's fiscal year 2026, starting this month, will be a "major inflection point" for its core cloud infrastructure services, driven by increasing demand for AI training workloads [6]. Company Background - Oracle is a leading enterprise software company, primarily focused on cloud computing and data storage, and is known for hosting TikTok's U.S. data [7]. - Larry Ellison, who co-founded Oracle in 1977, owns approximately 41% of the company and has a notable public presence, including past involvement with Tesla and significant political contributions [7].

Core Insights - NetApp Inc. operates in the hardware and data infrastructure market, focusing on two key segments: Hybrid Cloud and Public Cloud [1] - Approximately 51% of the company's revenues come from the U.S., with the remainder generated from international markets [1] Segment Analysis - The Hybrid Cloud segment provides data storage solutions, which are essential for businesses transitioning to cloud-based infrastructures [1] - The Public Cloud segment complements the Hybrid offerings, allowing for scalable and flexible data management solutions [1]