Category: Forex News

The Market News Today: Economists Anticipate Slight Uptick in Core Inflation

Will Oracle’s Cloud Business Boost and Strong Bookings Fuel Its Market Competitiveness?”

Oracle Corp.’s stock surged 13% following a robust performance in its cloud computing sector, with bookings far exceeding expectations. The company reported an $80 billion sales backlog, topping analysts’ $59 billion forecast. This growth, primarily from significant cloud infrastructure contracts, marks a pivotal stride in Oracle’s competition with tech giants like Amazon and Microsoft. Despite previous slow growth, Oracle’s cloud revenue jumped 25% to $5.1 billion, indicating renewed momentum in this fiercely competitive market. (Bloomberg)

Is Boeing’s Quality Control Under Scrutiny After FAA Audit Reveals Lapses?

An FAA audit revealed concerning practices at Boeing and its supplier, Spirit AeroSystems, including mechanics using Dawn soap as a lubricant and cleaning with cheesecloth. The report, based on FAA slides, highlights Boeing’s failure in 33 of 89 product audits for the 737 Max and Spirit’s failure in 7 of 13 audits. This scrutiny follows an incident with an Alaska Airlines 737 Max and underscores ongoing quality assurance issues at Boeing, now pressured to enhance safety and quality standards. (CNBC)

Is Bitcoin Set for Long-Term Growth? Top Trader Urges Change in Perspective

A prominent trader, who accurately predicted the 2021 Bitcoin downturn, advises a shift in how we view Bitcoin. He suggests focusing on a longer timeframe, highlighting factors like the successful BTC ETF and continuous central bank money printing. His advice: stop trying to predict market tops and consider Bitcoin’s potential over the next decade. Additionally, he notes a bullish trend in the altcoin market, signaling potential rallies as key resistance levels are breached. (The Daily Hodl)

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