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Technology stocks led by Oracle extend gains after inflation data surprises to downside

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Tech stocks surged on Wednesday as a prominent inflation report in the US led the market to increase the odds that the Federal Reserve (Fed) will cut rates in September.

May CPI inflation arrives lower than expected and below April showing. Despite reduced dot plot guidance for interest rate cuts, NASDAQ soars. Oracle stock surged 13% on bookings guidance for cloud business. Apple overtakes Microsoft market cap on strength of AI. Tech stocks surged on Wednesday as a prominent inflation report in the US led the market to increase the odds that the Federal Reserve will cut rates in September.

AI stocks FAQs What is artificial intelligence? First and foremost, artificial intelligence is an academic discipline that seeks to recreate the cognitive functions, logical understanding, perceptions and pattern recognition of humans in machines.

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