Market Overview and Upcoming Events

Traders are looking ahead to June 11, 2025, when Voyager Technology plans to launch its IPO on the New York Stock Exchange in New York City.

On Wednesday, stock futures dipped, marking the S&P 500’s first negative day after a three-day winning streak. The futures for the S&P 500 slid by 0.2%, while Nasdaq 100 futures also showed a similar decline. The Dow Jones industrial average lost 72 points, which is roughly 0.2%.

In after-hours trading, Oracle’s stock surged more than 7% after reporting strong fourth-quarter results, both in revenue and profit. Notably, its cloud infrastructure revenue soared over 70% for fiscal year 2026, a significant jump from the previous year’s 50% growth rate.

Wednesday’s downturn on Wall Street saw the S&P 500 slip by about 0.3% and the Nasdaq decline by 0.5%. The Dow remained flat, and while this loss puts the S&P 500 further from its recent highs, it’s still more than 2% below its late February peak.

Recent data showed that consumer prices rose more than anticipated in May, increasing by 0.1%—which is 0.2% lower than Dow Jones’ forecasts. The core Consumer Price Index, excluding food and energy, also rose more than expected.

Scottren, a senior global market strategist at Wells Fargo, expressed skepticism about the market’s ability to maintain high levels amid slowing economic conditions and ongoing trade discussions. “Is there really a good reason to run at record highs? I don’t know about that,” he remarked during an interview on CNBC.

Investors are awaiting the release of the May producer price index on Thursday at 8:30 AM, with economists predicting a 0.2% increase overall, while core PPI—excluding food and energy—is expected to rise by 0.3% for the month.

Meanwhile, the ongoing trade talks between the US and China continue to draw attention. Discussions are currently taking place in London, although the deal is pending approval from both President Trump and China’s President Xi Jinping.

Trump noted in a post that the US tariffs stand at 55%, compared to China’s 10%. However, Commerce Secretary Howard Lutnick later indicated that collecting goods from China at the current tariff level might not be feasible.

Additionally, the escalating tensions between the US and Iran are also under scrutiny. U.S. crude oil futures jumped over 4% following Trump’s remarks casting doubt on the possibility of achieving nuclear agreements.