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The world's second richest man changes hands briefly! Oracle founder Ellison's wealth briefly surpasses Bezos.
As Oracle's stock price continues to rise, the net worth of the company's founder and director, Larry Ellison, has also skyrocketed. On Friday, Ellison's net assets briefly surpassed those of Jeff Bezos, the founder of Amazon, making him the world's second richest person.
The three major US stock index futures are mixed, with Oracle's pre-market rise of 6% | Tonight's highlights.
①Japanese ironmaking, United States Steel merger plan letter to Biden; ②Boeing's two US factories with 0.033 million workers on strike; ③Oracle's pre-market surge of over 6%, the company has raised its revenue guidance for the fiscal year 2026.
Wall Street Today | Market Flat Tuesday While JPM Falls
U.S. stock index futures edged up slightly, with Oracle soaring more than 8% before the opening bell | Highlights tonight
Oracle's quarterly report exceeded expectations and announced a partnership with amazon AWS; Apple lost a lawsuit involving a 13 billion euro Irish tax bill; SpaceX: launched a manned spacecraft for the first private spacewalk mission.
Oracle's cloud business growth may consolidate its position as the new darling of Wall Street AI.
Cloud computing is one of the industries that has benefited significantly from artificial intelligence (AI) in the early stages. The quarterly financial report released by Oracle on September 9th confirms this trend. Despite not being the largest cloud service provider, Oracle's cloud infrastructure business has experienced rapid growth in recent quarters driven by the demand for AI. The company is committed to expansion and is developing collaborations with other major technology companies, which is expected to bring more business opportunities. In the field of cloud services, Oracle is essentially a 'follower', compared to larger and more mature cloud service providers such as Amazon, Microsoft, and Google. However, investors have valued Oracle's stocks highly.
US stocks closed with mixed performance for the three major indexes. Tesla rose more than 9% over the past two days, while NIO soared 14% after its performance announcement.
Before the non-farm data, there is new evidence of the cooling of the US job market, and economic concerns support a substantial rate cut bet. The yield curve of the 2-year/10-year US Treasury bonds, which briefly inverted for the third time in two years. The S&P 500 fell for the third consecutive day, with Broadcom falling more than 4% after hours, Tesla rising nearly 5%, and Nvidia and Chinese concept stocks rising nearly 1%. The yen reached a one-month high, and the offshore renminbi rose by 300 points to break 7.09 yuan. Gold rose briefly by 1%, and oil prices rose more than 2% before falling. US oil fell below $70 for the first time in 15 months over two days.
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