President Donald Trump has cut electric vehicle (EV) mandates for California, while shares of Boeing and GE Aerospace have fallen sharply following a fatal Air India crash. Oracle’s stock soared as the AI cloud computing giant beat Wall Street estimates in its latest quarter.
The Dow Jones Industrial Average climbed 101.85 points on Thursday, with investors weighing cooler-than-expected wholesale inflation data and tariff uncertainty. However, stocks closed lower due to concerns over the Boeing crash.
Boeing shares slid 8% after an Air India flight operated on a 787 Dreamliner that crashed shortly after takeoff. GE Aerospace also fell sharply, with its stock price dipping. Oracle’s shares, meanwhile, touched a new all-time high and predicted stellar revenue growth for next year.
The company’s CEO, Safra Catz, stated that FY26 will be an even better year, with dramatically higher revenue growth rates. The move has made founder Larry Ellison richer and pushed him to the #2 spot on Forbes’ real-time billionaires list.
Federal Reserve Chairman Jerome Powell’s term doesn’t end until May 2026, but rumors are circulating about a potential replacement. President Trump has publicly called for Powell to cut interest rates, citing concerns over inflation and debt.
In other news, Amazon’s $20 billion investment in Pennsylvania is expected to transform the state into a modern-day powerhouse. Microsoft shares are also hitting a new all-time high, with the company needing to close at $472.75 per share to seal its latest milestone.
GameStop saw its shares sink by more than 18% following plans to engage a $1.75 convertible senior notes offering. The company may use the funds for general corporate purposes, including potential acquisitions and investing in bitcoin.
Source: https://www.foxbusiness.com/live-news/boeing-crash-gamestop-sinks-inflation-data-live-updates