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Oleksandr Pylypenko

Stocks Slip Before the Open as Oracle Dents Sentiment After Fed Cut

US Federal Reserve Oracle Dow the Federal Reserve United States Jerome Powell AVGO Broadcom SoftBank Group

December S&P 500 E-Mini futures (ESZ25) are down -0.35%, and December Nasdaq 100 E-Mini futures (NQZ25) are down -0.65% this morning as Oracle rekindled worries about the massive spending tied to artificial intelligence, overshadowing optimism over the Federal Reserve’s latest interest-rate cut.

Oracle Corporation (ORCL) plunged over -10% in pre-market trading after the software and cloud-computing company posted weaker-than-expected FQ2 cloud sales and raised its full-year capital expenditures forecast. The company’s results brought renewed attention to concerns over tech valuations and whether heavy spending on AI infrastructure will ultimately pay off. Investors will get another read on the AI trade’s strength when Broadcom releases its earnings after the close.

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