Daily Wrap – Disinflation and the Curious Case of Oracle’s Guidance

The stock market’s early strength was fueled by Oracle’s (ORCL +35.95%) massive RPO update and upside guidance (despite an earnings miss), as well as a much cooler than expected August PPI, which quickly lifted the S&P 500 to fresh record highs. However, momentum faded in Nasdaq-100 shortly after the open, and for the broader market as…