Stock Market Update

[BRIEFING.COM] The DJIA (+1.0%) has notched an all-time intraday high as the broader market relishes in reaction to the rate cut and optimistic outlook provided at yesterday's FOMC meeting. Meanwhile, weakness in AI and mega-cap names keeps the S&P 500 (-0.3%) and Nasdaq Composite (-0.9%) firmly lower. 

Oracle (ORCL 193.90, -29.11, -13.05%) is the worst-performing S&P 500 name today following its Q2 (Nov) report, despite posting big EPS upside and its strongest revenue growth in 10 quarters. Revenue rose 14.2% year-over-year to $16.06 billion but still fell short of analyst expectations, weighing on sentiment. More concerningly, the company reported free cash flow (FCF) of $(10) billion, below street estimates, which raised alarms about Oracle's ability to manage its sizable debt load.

Meanwhile, Robinhood Markets (HOOD 125.52, -10.14, -7.47%) is also one of today's worst-performing names, as the stock has been particularly sensitive to dips in Bitcoin, which is down nearly 2.5% today, slipping past the $90,000 mark. Coinbase Global (COIN 264.66, -10.43, -3.79%) is another notable laggard in the otherwise strong financials sector (+1.2%).