Rendy Andriyanto
Rendy Andriyanto
Oracle posted a record quarter, yet a surge in AI capital spending deepened the tech selloff heading into tonight's session.
Wall Street closed sharply lower on Wednesday. The Nasdaq led the decline, down 1.98%, as the chip and AI trade unwound.
The trigger was Oracle (ORCL). Shares dropped more than 7% after hours despite record revenue and cloud growth. The reason was capital spending guidance well above what the market expected.
At the same time, a second wave of US strikes on Iran lifted oil and pushed investors toward safety. That combination is shaping the tape tonight.
| Stock | Movement | What to Watch |
|---|---|---|
| ORCL | Down 7%+ after hours | Record revenue, but AI capex sparks margin worries |
| XOM | Lifted by oil +2% | Middle East risk premium; energy as a risk-off hedge |
| CVX | Lifted by oil +2% | Sensitive to WTI pushing back above US$90 |
| NVDA | Pressured by chip selloff | AI sentiment barometer; data-center capex headlines hit it directly |
| MRVL | Pressured, but joining S&P 500 | Index inclusion could cushion the sector correction |
| MU | Pressured by chip selloff | Memory is an AI-demand proxy; volatile on sector news |
Oracle's capital spending is the main story. The market reads the heavy AI infrastructure commitment as a near-term margin drag. Investors are now asking when that scale of investment starts to pay off. The read-through hits Nvidia (NVDA) and other data-center names.
Adobe (ADBE) reports after the US close tonight. The stock is down about 30% this year, so the print is a live test of the thesis that AI eats creative software.
Geopolitics stays dominant. The US strikes on Iran lifted oil about 2% and benefit Exxon Mobil (XOM) and Chevron (CVX).
In chips, Marvell (MRVL) is set to join the S&P 500. Meanwhile, China's indium-phosphide export curbs add supply risk to the data-center chain.
US futures lean lower on tech pressure and geopolitical caution. The major indexes fell together in the prior session: the S&P 500 dropped 1.62% and the Dow lost 1.87%. Energy was the relative exception, supported by higher oil. The focus is on chip names and Oracle's follow-through once the regular session opens.
WTI is back above US$90 (up 2%), while gold pulled back about 2% after a long run. The 10-year Treasury yield holds at 4.52%, and the rupiah gained almost 1% as local sentiment improved.
Tonight is about balance. Oracle's capex shock tests risk appetite for AI, while higher oil offers a hedge in the energy sector.
Watch ORCL, the chip reaction, and Adobe's print as the direction-setters for the session. What stocks are you watching tonight?
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