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On today's edition of Market Domination Overtime, Yahoo Finance's Julie Hyman and Josh Lipton analyze the market close and the biggest stories of the trading day.
The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) closed at another set of record highs. Meanwhile, the Dow Jones Industrial Average (^DJI) fell by 120 points as stocks prepare for Wednesday's Consumer Price Index (CPI) and the Federal Reserve's interest rate decision.
Oracle's (ORCL) fourth-quarter earnings results missed Wall Street estimates, as adjusted revenue came in at $14.29 billion, below the $14.57 billion expectation. However, the tech giant announced a new partnership with Google Cloud (GOOG, GOOGL) and OpenAI has selected its Oracle Cloud Infrastructure "to extend" Microsoft's Azure AI platform (MSFT), causing the stock to jump. Synovus Trust Senior Portfolio Manager Dan Morgan explains, "They generate about 38% of their revenues right now from cloud. And Oracle's got a great opportunity."
Finally, Julie Hyman and Josh Lipton break down the biggest stories investors should watch for on Wednesday, June 12, from Fed Chair Jerome Powell's press conference to Broadcom (AVGO) earnings.
This post was written by Melanie Riehl