S&P 500 rebounds as Oracle leads tech stocks higher: Live updates

The S&P 500 rose on Thursday as a rally in Oracle lifted investors’ hopes and boosted the big tech sector.

The benchmark climbed 0.3%, while the Nasdaq Composite gained 0.3%. The Dow Jones Industrial Average added 77 points, or 0.2%.

Shares of Oracle surged 14% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines and indicated more cloud growth ahead. CEO Safra Catz said on a conference call that thanks to AI demand, cloud infrastructure revenue should increase more than 70% in the 2026 fiscal year, up from growth of 52% in the quarter. Oracle’s rally lifted big tech stocks higher, with the sector leading the S&P 500 higher on Thursday.

On the other hand, Dow component Boeing shed 4% after an Air India Dreamliner 787 crashed after takeoff with 242 passengers on board.

Stocks also rose after investors got another batch of data hinting at a solid economy. The May producer price index, a measure of final demand prices in the U.S. economy, rose just 0.1% for the month after decreasing 0.2% in April. Economists surveyed by Dow Jones had been looking for a 0.2% increase for last month. Bond yields eased on Thursday following the inflation report.

However, President Donald Trump’s unilateral tariff threat seemed to be holding stocks back from gaining too much. Wall Street awaits further developments on trade policy, especially between the U.S. and China, as talks between the two countries have been a focal point this week. Trump said Wednesday he would be willing to extend a July 8 deadline for finishing trade talks with countries before higher U.S. levies take effect, but that the extensions may not be necessary.

“I would, but I don’t think we’re going to have that necessity. We made a great deal with China,” Trump told reporters. “We’re dealing with Japan, we’re dealing with South Korea. We’re dealing with a lot of them. So we’re going to be sending letters out, in about a week and a half, two weeks, to countries, telling them what the deal is, like I did with EU.”

U.S. and Chinese officials reached a framework for future talks in London after two days of discussion this week, but the vague deal outline still awaits approval from Trump and Chinese President Xi Jinping. The two countries did agree to ease some restrictions around rare earth metals and foreign students.

“We still think the primary driver for market direction and to break out to all-time highs would be some resolution for tariffs and how they interlink with the budget and the Fed. And we see a lot of headlines about negotiations or pauses or frameworks, but we still haven’t seen a single signed trade deal between the U.S. and its trade partners,” said Tom Hainlin, senior investment strategist at U.S. Bank Asset Management Group.

He added: “So for us, we still see us sitting within our base case of uncertainty around how trade negotiations go. Market’s kind of range bound in wide ranges, but really lacking that durable breakout until we get some conclusion.”