Fast Money Blog- 9/15/23

All eyes were on Oracle Corporation (ORCL) this week, as the company released its Q1 2024 earnings on Monday, September 10th. 

Here’s what you need to know:

Total Revenue came in at $12.5 billion for Q1, up 9% year-over-year. 

Cloud revenue for the quarter came in at a total of $4.6 billion, up 30% year-over-year. 

Cloud Infrastructure revenue for Q1 was $1.5 billion, up 66% year-over-year. 

For the fiscal year 2023, Oracle’s revenue reached an all-time high of $50 billion. 

Essentially I think Oracle will be a winner for the next 5 years because of it’s dominance in data base and cloud services. 

On Wednesday, September 13th, Consumer Price Index data showed that inflation posted its biggest monthly increase this year in August. 

Inflation currently sits at 3.7%.

Energy prices fed much of gain, rising 5.6% on the month, an increase that included a 10.6% surge in gasoline.

Wall Street will be very interested in how this current inflation data affects the Federal Reserve’s decision on raising interest rates at their next meeting scheduled for Wednesday, September 20th. As you may recall the Federal Reserve has a target of 2% inflation.

I expects Stocks like AAPL, AMZN and MSFT to remain range-bound until next week's Federal Reserve meeting. 

Be smart! Be patient in your trading!

Tyrone Jackson, The Wealthy Investor