US markets Hit Record Highs as Oracle Soars, Indian Markets Eye a Breakout

The S&P 500 and Nasdaq retreated from highs but still closed at record levels, with the S&P 500 gaining 11% year-to-date and the Nasdaq up 13%.

Oracle, the software giant, jumped 36% in its largest single-day gain since 1992 after projecting cloud infrastructure revenue will reach $144 billion by fiscal 2030, compared to $10.3 billion in fiscal 2025.

Apple declined following Tuesday’s launch of new iPhones, Apple Watches, and AirPods. Losses from Salesforce and Amazon also pressured the Dow.

Market strength was supported by cooler-than-expected inflation data that bolstered Federal Reserve rate cut expectations. The Labour Department reported producer prices unexpectedly fell 0.1% in August after a revised 0.7% July increase. Economists had forecast a 0.3% rise versus the initially reported 0.9% gain.

Annual producer price growth slowed to 2.6% in August from a revised 3.1% in July, below expectations for the rate to hold steady at the initially reported 3.3%.

Asian equities traded mixed on Thursday following Wall Street’s rally that lifted both stocks and bonds, as declining producer prices reinforced expectations that the Federal Reserve will resume interest rate cuts next week.

Gold climbed to $3642 per ounce, approaching its all-time high, buoyed by heightened expectations for central bank easing and escalating geopolitical tensions across Eastern Europe and the Middle East.

Oil prices stabilised after three consecutive days of gains, with investors analysing Donald Trump’s recent remarks on Russia and their potential market implications.

Copper surged above $10,000 per ton on the London Metal Exchange, driven by supply disruption concerns in Indonesia and emerging signs that deflationary pressures in China’s industrial sector are beginning to ease.

The Nifty extended its rally for a sixth consecutive session yesterday, driven by encouraging progress in bilateral trade discussions with the United States.

The index remains positioned above all key moving averages, indicating a bullish configuration that supports further upward momentum. Immediate resistance stands at 25,153, marked by the previous swing high, while 24,800 provides the nearest support level on any pullback.

Indian markets are poised to open modestly higher today, supported by positive global cues. A sustained move above 25,050 could trigger additional gains through short covering.

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