Beat the street: Hotter than expected US inflation; Oracle shines; Goldman Sachs AM
US stocks struggle for direction after that hotter than expected US inflation reading for February. Oracle tops quarterly profit estimates on AI demand and investors are now watching its planned announcement with NVIDIA.
Goldman Sachs Asset Management seeks to expand its private credit portfolio to $300 billion in five years.
(AI Video Summary)
Dollar CPI reaction
Today's edition of "Beat the street" sees Angeline Ong discussing recent news headlines about the financial markets, using simpler language for those with little trading experience. Firstly, it mentions that after the release of the Consumer Price Index (CPI) data, the US dollar index turned negative. This means that the value of the US dollar decreased compared to other currencies.
Oracle shines
Next, she talks about Oracle, a company that reported better-than-expected profits. This was because there is a high demand for artificial intelligence. Oracle mentioned an upcoming announcement involving NVIDIA, which has created excitement and anticipation.
Goldman Sachs expansion drive
Goldman Sachs, a well-known bank, is planning to expand its private credit portfolio to $300 billion in five years. This means they want to invest more money in lending to private businesses. Other banks, like Morgan Stanley, also want to grow their private credit portfolios.
More woes for Boeing
Ong also mentions that Boeing's shares are under pressure because of issues found in the production of the 737 MAX airplane. This has caused concerns, especially after the incident with a LATAM Boeing 787 in New Zealand.
Oil prices and Dow Jones
Lastly, she notes that oil prices are increasing due to tensions in the Middle East, but there are worries about weak demand from China. The Dow Jones, which are stock market indexes, are currently experiencing slight downward trends.
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