Dow Futures Slip After Oracle Earnings, Soften Gains From Fed Rate Cut: CRWV, NVDA, RKLB, AVGO, COST Among Stocks To Watch

• Oracle reported its quarterly results on Wednesday, clocking in revenue below expectations and highlighting AI-related debt. 
• Asian markets also closed lower on Thursday, with the TWSE Capitalization Weighted Stock index down 1.32% and the Nikkei 225 0.9% lower.
• Broadcom Inc. (AVGO), Costco Wholesale Corp (COST), and Lululemon Athletica Inc. (LULU) are among the companies scheduled to report their latest quarterly earnings on Thursday.

U.S. stock futures were trading in the red on Thursday morning after Oracle Corp. (ORCL) shares tanked following the company’s disappointing quarterly earnings and higher capex, muting the gains from the rate cut announced by the Federal Reserve on Wednesday.

The Fed announced a 25 basis-point cut on Wednesday, setting the key rate in the 3.5% to 3.75% range, in line with market expectations. 

Market Performance  

Dow Jones futures were down 0.18% at the time of writing, S&P 500 futures dipped 0.54%, and Nasdaq 100 futures were 0.78% lower. Futures on the Russell 2000 index traded down 0.01%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was down 0.58% at the time of writing, Invesco QQQ Trust (QQQ) lost 0.78%, and SPDR Dow Jones Industrial Average ETF Trust (DIA) edged lower by 0.22%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.

Asian markets ended Thursday’s trading session in red as well, with the TWSE Capitalization Weighted Stock index leading losses of 1.32%, followed by the Hang Seng index’s 0.04% slip. The Shanghai Composite ended 0.65% lower, and KOSPI was down 0.59%. 

The Nikkei 225 index closed the day 0.9% lower.

Stocks To Watch

Oracle (ORCL): Oracle shares were down over 11% on Wednesday after its quarterly revenue came in lower than expected despite a growth in earnings. However, the real downer for Oracle’s investors is its high debt and its whopping 438% growth in remaining performance obligations (RPO). 

CoreWeave Inc. (CRWV), Nvidia Corp. (NVDA), Advanced Micro Devices Inc. (AMD): Other artificial intelligence (AI) stocks also took a beating after Oracle’s subpar results sparked concerns over the AI industry. CRWV declined 3.49%, NVDA was down 1.85%, and AMD traded 1.58% lower on Thursday’s pre-market trading at the time of writing.

EchoStar (SATS), Rocket Lab USA (RKLB), Firefly Aerospace (FLY): A potential SpaceX IPO in 2026 at a whopping $1.5 trillion valuation sent stocks of related aerospace companies soaring on Wednesday. While an official announcement is yet to come, Musk hinted at a confirmation on his X account. Wall Street is staying ahead of the curve on this one. 

Broadcom Inc. (AVGO), Costco Wholesale Corp (COST), CIENA Corp. (CIEN), and Lululemon Athletica Inc. (LULU) are among the companies scheduled to report their latest quarterly earnings on Thursday.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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