U.S. stock index futures climbed on Friday, with tech shares gaining after a pullback in the previous session, as Oracle's solid quarter restored faith that tech-related companies are emerging stronger from the coronavirus crisis.
The cloud services company added 3.4per cent in premarket trading after its quarterly results beat estimates and it signaled a recovery in client spending due to higher remote working-led demand.Peloton Interactive Inc surged 11.2per cent after it beat quarterly revenue estimates as the exercise bike maker recorded a surge in subscribers and increased demand for its fitness products during the pandemic.
The three main U.S. stock indexes were headed for a second straight weekly decline, with the Nasdaq eyeing its steepest weekly fall since March after concerns over the massive build-up in call options tied to tech names exacerbated the selloff. Recent economic indicators suggest a long and difficult recovery from the pandemic, especially in the labor market. Data at 8:30 a.m. ET is expected to show U.S. consumer prices dipped in August from the prior month.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oracle revenue, profit beat as cloud business benefits from remote workOracle Corp signaled a recovery in client spending as remote work spurred demand for cloud services as well as traditional licensing business, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Oracle revenue beats as cloud business benefits from remote workBusiness software maker Oracle Corp beat quarterly revenue expectations on Thursday as more companies signed up for its cloud services and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Seoul: Stocks rebound on US tech rally, new virus stimulus[SEOUL] South Korean shares rebounded on Thursday, tracking a tech-led rally in Wall Street, while the government's new stimulus package added to investor sentiment. The won gained, while the benchmark bond yield fell. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Tokyo: Stocks rebound on optimism for economic reopening[TOKYO] Tokyo shares shed earlier losses and ended higher Friday on renewed optimism as the Japanese capital moved to loosen social restrictions after falls in the number of coronavirus infections. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
US stocks resume downward slide, tech shares tumbleNEW YORK (AFP) - Wall Street stocks finished solidly lower on Thursday (Sept 10), resuming a downward trend from recent sessions as a US relief package suffered another setback in Congress.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
US stocks resume downward slide, tech shares tumble[NEW YORK] Wall Street stocks finished solidly lower on Thursday, resuming a downward trend from recent sessions as a US relief package suffered another setback in Congress. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »