S&P 500 Hits New Record as Oracle Shares Slide | Closing Bell

Oracle's stock has significantly declined following disappointing quarterly earnings and increased spending on artificial intelligence infrastructure, raising concerns about the company's financial health and the sustainability of its investments.

Brandon Scott, the Mayor of Baltimore, offered advice to New York's mayor-elect Mamdani during an interview with Romaine Bostick, emphasizing the importance of leading with people and assembling a strong team to tackle housing affordability issues.

Oil prices have rebounded from their lowest close since October, driven by a wave of optimism in broader financial markets. This rally indicates a shift in market sentiment, reflecting increased investor confidence in various sectors.

In the current frenzy of China's IPO market, only 0.02% of stock bids are being awarded, making it increasingly difficult for investors to secure shares in new listings. This situation reflects a significant shift in market dynamics, where demand far exceeds supply, leaving many investors frustrated and disillusioned.

Andrew Kimball, President & CEO of the NYC Economic Development Corporation, praised the Mayor-elect's emphasis on affordability, noting its resonance with voters. He highlighted that affordability is a critical economic development issue essential for the city's future stability and growth.

Russ Brownback, BlackRock’s Deputy CIO, predicts a wave of mergers and acquisitions (M&A) in 2026, attributing this to a 2% productivity growth that allows the economy to expand without increasing hours worked. He emphasizes the potential of generative AI to further enhance productivity during an interview on Bloomberg's 'The Close.'

Peru's central bank has decided to maintain its key interest rate at a three-year low, reflecting a stable economic environment with inflation rates well below the target range. This decision underscores the bank's confidence in the ongoing economic growth, which has been steady despite global uncertainties.

The S&P 500 index reached a record closing high, reflecting a positive market response following the Federal Reserve's indication of potential interest rate cuts. This development marks a significant turnaround after a period of cautious trading, where investors were apprehensive about the Fed's monetary policy decisions.