Stock Market Summary

The stock market experienced significant movements today following a series of impactful reports. Oracle's shares plummeted by 11% due to weaker-than-expected revenue figures, which raised concerns regarding AI spending and negatively impacted other tech stocks, including Nvidia and CoreWeave.

The company reported a 438% increase in remaining performance obligations but still faced scrutiny over its revenue slowdown, leading to a loss of approximately $70 billion in market value, as noted by The Guardian.

Meanwhile, the Federal Reserve has cut key interest rates, indicating a healthier economic outlook for the next year, which could provide a boost to stock prices, according to various reports. In this context, futures for the Dow Jones rose, and tech stocks began to recover, although the market remains cautious amid ongoing discussions about AI's profitability.

Cryptocurrencies also took a hit, with Bitcoin dropping below $90,000 as concerns about AI profits weighed on risk appetite, highlighting the interconnectedness of these markets.