00:09 Speaker A
Time now for what to watch Tuesday, March 10th. Going to start up here on the earnings front.
00:13 Speaker A
We’re hearing from Chinese automaker Nio as well as defense tech company Aero Vironment on Tuesday, but all eyes will be on Oracle third quarter earnings after the closing bell.
00:25 Speaker A
Investors will be watching closely for updates on its massive AI infrastructure buildout, which has come into question recently.
00:32 Speaker A
Bloomberg reporting the company and OpenAI are scrapping plans to expand a major AI data center in Texas.
00:39 Speaker A
On earnings, analysts expecting Oracle could raise capital spending expectations significantly as it races to meet demand for AI workloads, with projections pointing to roughly 60 billion in CapEx over the next year.
00:52 Speaker A
In the retail space, Kohl’s announcing fourth quarter results on Tuesday, analysts anticipating the company to miss sales expectations for Q4.
00:58 Speaker A
The retailer is leaning on private labels and value promotions like the $10 and under finds, but early checks suggest shoppers are gravitating towards off-price competitors.
01:06 Speaker A
And moving over to housing, we’re getting existing home sales data for February. Economists forecasting a slight pullback there with sales to dip to an annualized rate of 3.88 million, another sign the housing market remains under pressure.
01:21 Speaker A
And we’re also going to be watching the NFIB Small Business Optimism Index. Economists expecting that reading to tick slightly higher to 99.5 in February, giving investors another look at how smaller businesses are feeling about the state of the US economy.