00:01 Speaker A
Time now for to watch Wednesday, December 10th. Going to start off on the Federal Reserve, a critical moment for the Fed coming up with December’s FOMC meeting. Interest rate decision coming on Wednesday at 2:00 p.m. Eastern. Wall Street largely expecting the Fed to cut rates by 25 basis points at the meeting.
00:23 Speaker A
Investors will be listening closely to Fed chair Drone Powell’s commentary about monetary policy going forward. Jay Powell will be giving his typical press conference after the decision. And Yahoo Finance will begin coverage on Wednesday at 2:00 p.m. Eastern.
00:36 Speaker A
Taking a look at earnings as well. We’re going to be getting another batch of earnings on Wednesday including Oracle and Adobe. Oracle announcing results for the second quarter after the market’s closed, its stock getting whacked over the past few months, down more than 8%.
00:50 Speaker A
But analysts are expecting Oracle to be set up for another strong quarter because demand for its AI cloud is still much bigger than its available capacity, and the cloud infrastructure business could grow around 70% this quarter as more AI capacity does come online.
01:05 Speaker A
Oracle should see strong near-term demand even before that big open AI contract ramps up over the next two to three years.