Today’s market witnessed a significant Dow drop, with major attention on Oracle’s mixed earnings report—a beat on estimates but a post-market slide due to a $20 billion capital raise. Gold futures plunged to their lowest close since late 2025, reflecting concerns over potential interest rate hikes. Looking ahead, traders await crucial jobless claims and producer price index data, alongside earnings reports from Adobe, Lennar, and RH, while the start of the World Cup adds a geopolitical layer with specific country ETFs under pressure.
Welcome to Stocks @ Night, your essential daily briefing designed to give you an early look at tomorrow's market drivers and a final recap of today's key movements. As the Dow Industrials tumbled more than 900 points, our CNBC TV producers were busy tracking the stories poised to dominate the next trading session. Here's what's on their radar:
Oracle Faces Post-Earnings Pressure
Despite beating earnings estimates and raising profit guidance in its Wednesday afternoon report, tech titan Oracle saw its shares fall in extended trading. The dip followed the company's announcement of plans to raise an additional $20 billion in equity and debt. Oracle shares are currently down more than 7% in the post-market, marking a steep 42% decline from their September high. For a deeper dive, tune into CNBC's "Morning Call" starting at 5 a.m. ET, where Morgan Brennan will provide comprehensive analysis. (ORCL chart data showed shares in the past five trading days)
Alphabet's Secret Portfolio Revealed
CNBC TV's MacKenzie Sigalos brought to light Alphabet's substantial private investment portfolio, which includes stakes in high-profile companies like SpaceX, Anthropic, and Cursor, among others. While Alphabet shares peaked at $408.61 on May 18th and are now 13% off that level, the company's stock has still climbed nearly 14% year-to-date.
Gold's Glitter Fades Amid Rate Speculation
Gold futures experienced a significant drop on Wednesday, settling down 3.57% to their lowest close since November 2025. The precious metal is now down a striking 11% so far in June. CNBC TV contributor and "Fast Money" trader Guy Adami commented Wednesday night, "Higher rates which may be coming, will be a positive for gold. I don't think you want to run too far away right now." The VanEck Gold Miners ETF (GDX) reflects this bearish sentiment, down 37% from its March high and 17.5% in June. (GDX chart data showed performance in the past month)
Key Economic Data on the Horizon
Investors will be closely watching for crucial economic indicators due out Thursday. Jobless claims are set to be reported live on "Squawk Box" at 8:30 a.m. ET, with the Dow Jones consensus estimate anticipating 220,000 initial claims. Interestingly, 57% of traders on Kalshi predict the number will exceed this estimate. "Squawk Box" will also cover the latest inflation data in the form of the producer price index (PPI), which is estimated to show a 0.7% month-over-month jump.
Earnings Watch: Adobe, Lennar, and RH
Several companies are scheduled to report earnings after the bell Thursday. Adobe has seen its shares fall 15% in the last three months and approximately 44% over the past year. (ADBE chart data showed performance in the past year) Homebuilder Lennar has also struggled, with shares down 9% in three months and 37% from its September high. In contrast, RH has shown some resilience, with its stock up 3.6% in three months, though it remains 42% off its September high.
World Cup Kicks Off: Market Implications
The World Cup begins Thursday, with Mexico opening the tournament against South Africa, followed by South Korea playing Czechia in the evening. The iShares MSCI Mexico ETF (EWW) is 9% off its February high and down 5% in June. The iShares MSCI South Korea ETF (EWY) has seen a sharp decline, down 16% in a week and 13% in June. Lastly, the iShares MSCI South Africa ETF (EZA) is down 23% from its February high and 9% in June, highlighting potential market reactions tied to global events.
