Earnings reports are set to take center stage tomorrow, June 11th, with major companies like Oracle, Chewy, and Victoria’s Secret announcing their quarterly results. Oracle, in particular, has shared that its cloud division is anticipated to experience impressive growth, projecting an increase of over 54% this quarter. This optimism is backed by positive trends seen in the cloud services sector, with industry giants like Microsoft and Google reporting favorable outcomes.
In addition to corporate earnings, the economic landscape will be examined as fresh inflation data is slated for release, specifically the Consumer Price Index (CPI). Economists are predicting that the total CPI will remain steady at 0.2%, while core CPI may see a slight uptick to 0.3% on a month-over-month basis. Year-over-year expectations for total and core CPI are set at 2.5% and 2.8%, respectively.
Meanwhile, the housing market is also under observation as weekly mortgage rate application data is due to be published. Last week’s figures indicated a decline of 3.9% from the previous week, marking a third consecutive week of decreases in mortgage applications, which may reflect changing dynamics in the housing sector.
These developments could signify shifts in both corporate performance and economic indicators, setting the stage for potential market reactions. The anticipation of growth in the tech sector, particularly for Oracle, provides a hopeful outlook for investors, while the stability in inflation data might signal a consistent economic environment.