NEWS
Investors’ First Solace Of September

A rebound in tech stocks helped the major indexes record their first positive day of September. This week’s inflation data remains the focus, as investors and traders debate whether the Fed will cut 25 or 50 bps next Wednesday. 👀

Today's issue covers Oracle pushing cloud stocks higher, Google investors’ bear market conundrum, and the iPhone problem Apple needs to fix. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with technology (+1.64%) leading and communications (+0.43%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $RBRK, $TIL, $SMMT, $ORCL, $RLAY 📉 $HHH, $NSC, $CENN, $BNGO, $EGIO*

*If you’re a business and want to access this data via our API, email us.

EARNINGS
Oracle Makes New All-Time Highs 📈

The tech giant is one of the few major earnings reports this year and delivered the goods.

Adjusted earnings per share of $1.39 topped the $1.32 expected, while revenues of $13.31 billion were less than 1% higher than anticipated. 📊

Cloud services and license support revenue rose 10% YoY to $10.52 billion, while the cloud and on-premises license segment rose 7% to $870 million.

Notably, YoY revenue growth from its cloud infrastructure accelerated QoQ from 42% to 45%, with “demand continuing to outstrip supply,” according to management. 😮

Oracle shares were up nearly 10% after the bell to new all-time highs, though the Stocktwits community remains negative, with sentiment in ‘bearish’ territory. Some cited mixed guidance for the current quarter as a reason to be hesitant about this move. 🙃

P.S. In today’s Chart Art newsletter, Stocktwits user @Dr_Stoxx outlined a play in the cloud computing ETF $SKYY that today’s Oracle news could help. 👀

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