Global stocks rise on Oracle rally and Fed rate cut hopes

Global stocks pushed higher Wednesday morning after Oracle gave investors a reason to care, and the bond market started whispering about possible rate cuts. That’s what sent futures on the S&P 500 up 0.2%, as reported by ￰0￱ 100 futures ticked up 0.1%. But the Dow Jones Industrial Average (home to more old-school names) slipped 80 points, or 0.2%, as some traders shifted attention to fresh inflation readings coming later in the ￰1￱ the futures moved, the cash session on Tuesday had already finished ￰2￱ three of America’s main indexes closed at record ￰3￱ S&P added 0.27%, Nasdaq gained 0.37%, and the Dow surged by 196.39 points, or 0.43%. That jump in the Dow came mostly from UnitedHealth, which rallied hard enough to drag the whole index with ￰4￱ rallies while China reports deflation and Alibaba lifts tech In Asia, the day was just as active.

China’s CSI 300 ended 0.21% higher at 4,445.36. Hong Kong’s Hang Seng Index rose 1.04%, while the tech-heavy Hang Seng Tech Index climbed 1.82%. But the economic data coming out of Beijing wasn’t as cheerful. China’s consumer price index dropped 0.4% year over year in ￰5￱ missed expectations of a 0.2% decline, based on a Reuters ￰6￱ producer price index also fell, dropping 2.9% year over ￰7￱ matched forecasts, and was better than July’s 3.6% drop, but still points to weak ￰8￱ Kong-listed Alibaba Group rose 2.1% during the session after nearly touching a four-year ￰9￱ came after Chinese robotics company X Square Robot revealed it raised $100 million in a funding round led by Alibaba ￰10￱ deal caught attention fast and pushed investors back into Chinese tech.

Meanwhile, Japan’s Nikkei 225 closed at a record 43,837.67, up 0.87%. The Topix index also rose 0.6%, finishing at 3,140.97. South Korea’s Kospi extended its winning streak to seven straight sessions with a 1.67% gain to close at 3,314.53. The Kosdaq, South Korea’s small-cap index, gained 0.53%.

On the labor front, the country’s unemployment rate ticked up to 2.6% in August from 2.5% the month before. Australia’s S&P/ASX 200 added 0.31% and finished the session at 8,830.4. In India, the Nifty 50 rose 0.56%, while the Sensex was up 0.54%. Asian hardware firms tied to Apple moved up too, after the company launched new iPhones, AirPods, and Apple Watches Tuesday, as Cryptopolitan reported .

Foxconn, based in Taiwan, rose 1.2%, while Samsung Electronics climbed 1.4%. Apple’s own stock didn’t benefit though, it dropped 1.48%, as traders didn’t seem thrilled with the latest lineup. Europe’s Stoxx 600 was up 0.5% shortly after the bell, with all major sectors in the green. France’s CAC 40 increased 0.93% to 7,821.76.

Italy’s FTSE MIB added 0.41%, ending at 42,179.68. The FTSE 100 in the UK inched up 0.27% to close at 9,267.25. Germany’s DAX closed up 0.66% at 23,876.11. And Spain’s IBEX 35 wrapped the session with a 0.99% gain, finishing at 15,172.80.

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