China’s retail sales and industrial data miss expectations in August
Growth in the world’s second-largest economy has slowed after a disappointing recovery from Covid-19.
Financial News
Oracle’s Larry Ellison briefly tops Jeff Bezos to become world’s second-richest person
Oracle is on pace for its best week since 2021, and the rally lifted founder Larry Ellison’s net worth past Jeff Bezos for a brief period on Friday.
Oracle bumps up fiscal 2026 revenue forecast, lifting stock 6%
Oracle is projecting higher revenue and capital expenditures as its cloud-computing arm grows.
Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021
The consumer price index was expected to increase 0.2% in August and 2.6% from a year ago.
Two key inflation reports this week will help decide the size of the Fed’s interest rate cut
The Bureau of Labor Statistics will first release the consumer price index Wednesday and then the producer price index Thursday, both measuring August prices.
Oracle shares jump on earnings and revenue beat
While Oracle becomes more competitive in cloud infrastructure, it is also ensuring that competitors can offer its widely used database to their clients.
Many ‘doubted the vision’: Saudi investment minister touts ‘green shoring’ on path to diversification
Saudi Minister of Investment Khalid al-Falih pushed back on skepticism of Riyadh’s economic diversification.
CIA director saw ‘genuine risk’ of Russia using tactical nuclear weapons early in Ukraine war
CIA Director Williams Burns said the risk of escalation should not be taken lightly, but the U.S. should also not be intimidated by Russia.
AI craze is distorting VC market, as tech giants like Microsoft and Amazon pour in billions of dollars
With the biggest companies in the world throwing billions of dollars at generative AI startups, traditional VCs are struggling to find their place in the boom.
Friday’s jobs report for August is going to be huge. Here’s what to expect
The Wall Street consensus is for nonfarm payrolls growth of 161,000 for August and a slight decline in the unemployment rate to 4.2%.