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June 14, 2023
After closing at $116.68 yesterday, Oracle gained $5.59 today and hit a new record high of $122.51.
Oracle is currently trading at $122.27 following the release of FOMC Press Conference data from the United States.
Oracle's uptick comes amid good United States macroeconomic data released during the day — United States Crude Oil Inventories improved upon its previous reading of -451,000 with a new data release of 7.92 million.
On the flip side, data from United States concerning Producer Price Index was released today at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.2% to -0.3% this month.
Meanwhile, United States Interest Rate released today at 18:00 UTC with a figure of 5.25, while the previous figure was 5.25.
A look at other technology stocks also showed bullish price action as Intel gained 4.92%, as it traded at $35.58. NVIDIA was up 4.81%. ServiceNow was up 2.27%.
Today's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Initial Jobless Claims is expected tomorrow at 12:30 UTC.
Also worthy of note, United States Retail Sales projected to come out at -0.1% — worse than previous data of 0.4%; data will be released tomorrow at 12:30 UTC. United States Core Retail Sales expected to decline to 0.1% while its preceding data was 0.4%, data will be available tomorrow at 12:30 UTC.
Elsewhere, United States Philadelphia Fed Manufacturing Index (Jun) scheduled to come out tomorrow at 12:30 UTC.
The stock has been trending positively for about 2 months.
