As Oracle Soars, US Stocks Will Continue to Rise – Europe Market Wrap

US stocks are poised to reach new highs as Oracle jumps on a bullish outlook, and speculators gamble that a pair of inflation data will not stop the Fed from decreasing interest rates.

Futures for the S&P 500 increased 0.3%. Oracle soared 30% in premarket trade after surprising Wall Street with an ambitious estimate, fuelling hopes that the AI infrastructure rollout could accelerate. Nvidia, a chipmaker, and Asian tech heavyweights like TSMC both advanced.

US Treasuries remained stable, and the Dollar saw no change. Money markets predict up to three quarter-point rate cuts this year.

European markets followed Wednesday’s worldwide rally, with the Stoxx 600 up 0.3% as Zara owner Inditex’s solid start to the quarter boosted retail companies.

Wall Street strategists are raising their S&P 500 estimates due to increasing interest in AI and good corporate results.