Overview
The U.S. stock market ended lower driven by issues surrounding Oracle's Michigan data center project and interest rate optimism. The S&P 500 index fell for the fourth consecutive day, dropping below its 50-day moving average.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
Oracle's stock took a hit after Financial Times reported that Blue Owl Capital would not contribute to the $1 billion Michigan data center funding. The move spiked investor anxiety, especially after Oracle recently denied delaying its AI project with OpenAI. Christopher Waller of the Federal Reserve provided some relief by suggesting potential room for rate cuts, citing a scenario of ongoing disinflation through 2026.
Economic Indicators for Tomorrow
| Announcement Time | Details |
|---|---|
| 21:00 | UK Interest Rate Decision |
| 22:15 | European Interest Rate Decision |
| 22:30 | U.S. Initial Jobless Claims |
| 22:30 | U.S. November CPI Rate |
| 22:30 | U.S. December Philadelphia Fed Index |
| 23:30 | U.S. Natural Gas Storage |
| 00:00 | U.S. December Kansas City Fed Index |
General Opinion
The market is experiencing a rotation phase, with concerns lingering over data center and AI investments. Oracle’s funding withdrawal news has exacerbated uncertainties surrounding tech stocks. While potential rate cuts provide some optimism, upcoming economic data will play a crucial role in determining market direction.
