In a turbulent day for the markets, the Dow Industrials experienced a significant drop, plummeting over 900 points. This downturn has set the stage for a cautious outlook as investors brace themselves for the upcoming session.
Oracle made headlines with its latest earnings report released on Wednesday afternoon, where the tech giant not only exceeded estimates but also raised its profit guidance. However, the company’s plans to raise an additional $20 billion in equity and debt sent its shares tumbling in extended trading hours, leading to a decline of over 7%. The stock is now down 42% from its peak in September. Morgan Brennan of CNBC is expected to discuss these developments further on the “Morning Call” show starting at 5 a.m. ET.
In the realm of tech, Alphabet’s investment portfolio is attracting attention. CNBC’s MacKenzie Sigalos reported that the company holds significant stakes in high-profile firms such as SpaceX, Anthropic, and Cursor. Although Alphabet shares reached a high of $408.61 back in May, they have since decreased by 13%, though they remain nearly 14% higher for the year to date.
Gold futures took a hit, closing down 3.57% for their lowest settlement since November 2025. The yellow metal is down 11% in June alone. Trader Guy Adami remarked on “Fast Money” that anticipated rises in interest rates might eventually benefit gold, suggesting a cautious stance for investors.
Market analysts are closely watching upcoming jobless claims data, set to be released at 8:30 a.m. on “Squawk Box.” The Dow Jones consensus estimate predicts 220,000 initial jobless claims, with 57% of traders on Kalshi expecting numbers to surpass this estimate. The show will also cover inflation metrics, with the producer price index expected to rise by 0.7% month-over-month.
Adobe is another company under scrutiny as it prepares to report after the bell. The software giant’s shares have fallen by 15% in the past three months and are down approximately 44% year-over-year. Similarly, Lennar is anticipated to report earnings, with its stock down 9% over the last quarter and 37% since September.
Additionally, RH is also set to release its earnings report after the bell. The company has seen its shares increase by 3.6% over the past three months but remains 42% lower than its September high.
As the sports world also gears up, the World Cup kicks off with Mexico facing off against South Africa on Thursday evening, followed by a match between South Korea and Czechia. For investors, the iShares MSCI Mexico ETF (EWW) is currently down 5% in June and 9% from its February high, while the MSCI South Korea ETF (EWY) has experienced a 16% drop in just a week. The iShares MSCI South Africa ETF (EZA) is down 23% since February and 9% for the month of June.
With these shifts across various sectors, the market remains in a state of flux, prompting both caution and intrigue as investors prepare for what lies ahead.
