"The Dow is down about 45 points, as the Nasdaq tacks on another 26 points. After yesterday's Micron-induced tech rally, Oracle ( NYSE: ORCL) is giving markets a boost. All on news TikTok agreed to sell its U.S. operations to a new joint venture that includes the oversold tech giant and private equity investors at Silver Lake. Shares of Oracle are up about $8.50 in premarket on the news."
"Markets are running on hopes of more interest rate cuts That's thanks to a lighter-than-expected inflation reading from November's CPI report. The data, which showed a 2.7% year over year jump in consumer prices, was lower than expected, and gives investors some hope that the Federal Reserve will lower rates in the new year. That lower CPI reading, coupled with job market weakness and rising unemployment, now makes it possible we'll see more rate cuts in 2026."
U.S. markets opened mixed with the S&P 500 marginally higher, the SPDR S&P 500 ETF slightly down, the Dow lower and the Nasdaq higher. Oracle surged in premarket trading after news that TikTok agreed to sell its U.S. operations to a joint venture including Oracle and Silver Lake, and analysts remain bullish with price targets ranging from $280 to $325. A lighter-than-expected November CPI reading of 2.7% year-over-year boosted hopes for eventual Federal Reserve rate cuts, especially alongside signs of job-market weakness including a 64,000 November gain that only partially offset a 105,000 October loss.
Read at 24/7 Wall St.
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