Oracle posts record single day jump of $5.97 (+6.07%)

The enterprise IT company traded at $104.29 yesterday, after making its biggest single-day jump of $5.97 (6.07%) since October 2022.

Oracle's uptick comes amid disappointing United States macroeconomic data released during the session – highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

This rally in Oracle's share price coincided with other technology stocks as NVIDIA traded at $379.8 after closing yesterday's trading day at $305.38 (up 24.37%). TSM was up 12%. AMD traded at $120.35 after closing yesterday's trading day at $108.27 (up 11.16%).

The stock has been trending positively for about 2 months. The enterprise IT company has fallen back around 5.72% over the past a day, from a notable high of $104.29.