Thu 11 Dec: After the Bell🔒

Silver and Copper Hit Records Amid Uneven Equity Trading; 5’ evening market wrap📄📈

ℹ️ Today’s performance tables & charts on the ‘Market Data’ post.

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Good evening,

Wall Street failed to carry over yesterday’s optimism from the Fed’s rate cut and upgraded growth outlook, as equity performance diverged on Thursday. Oracle’s disappointing earnings weighed on tech, leaving the Nasdaq slightly lower, while the S&P 500 edged up and the Dow reached a new all-time high of 48,704. Small caps outperformed sharply, with the Russell 2000 rallying more than 1%.

Volatility collapsed, with the VIX falling below 15%, its lowest level since mid-September, signalling limited demand for hedging. The dollar extended its decline, pushing the DXY to an eight-week low.

Today’s notable large-cap mover was Oracle. Shares tumbled 11% post-Q2 earnings reported yesterday after the close, as $16.1bn revenue missed estimates despite +14% YoY growth, with capex surging to $12bn quarterly (FY total now $50bn, +40%). Investor worries mounted over massive AI data centre spending to chase Amazon’s AWS and Microsoft’s Azure leaders, pushing long-term debt to $116bn (+44%), despite orders up 15% to $520bn from Meta and Nvidia deals.

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