S&P 500 ends higher as Oracle reignites AI rally; Boeing drops
By Noel
Randewich and Sukriti
Gupta
Fri June 12, 2025 4:19 PM
All three indexes started the day in the red, the Dow down more than 250, before starting a recovery around 10 a.m. that continued throughout the day to close with modest gains, the Dow just making 3-digits. Middle East tensions haunted at first but then Oracle came out with a strong annual revenue forecast based on growing demand for its AI services and that sprung the whole market into action. Lower than expected PPI and jobless claims also helped optimism of a weakening labor market which would keep inflation down and calm market concerns about tariffs driving higher prices.
The optimism was sufficient for Goldman Sachs to lower its recession forecast to 30%. This also raised hopes for the Fed rate cuts for which 60% odds are now placed on a September cut. Volume was huge at 23.5 billion vs the average of 18 (which should be raising concerns about another day of triple witching, especially since the indexes didn’t move that much, but no such thing was mentioned in the article.)
DJ: 42,865.77 -1.10 NAS: 19,615.88
-99.11 S&P: 6,022.24
-16.57 6/11
DJ: 42,967.62 +101.85 NAS: 19,662.48
+46.61 S&P: 6,045.26
+23.02 6/12
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