US Stock Market Close: Three Major Indexes Close Higher Collectively, Oracle's Share Price Hits New High, Boeing Plummets

On Thursday (June 12), US stocks opened lower but closed higher, with all three major indexes rising collectively. Both the Dow and the S&P 500 closed at their highest levels in at least three months.

At the close, the Dow Jones Industrial Average rose 0.24% to 42,967.62 points, its highest level since March 6; the S&P 500 rose 0.38% to 6,045.26 points, a new high since February 21; and the Nasdaq Composite Index rose 0.24% to 19,662.48 points.

Among the 30 Dow components, 19 rose and 11 fell. The biggest decliner was Boeing (-4.79%). Earlier in the day, an Air India Boeing 787-8 aircraft crashed shortly after takeoff, marking the first fatal accident involving the Boeing 787 model.

Driven by Oracle's positive earnings report after the market close the previous day, AI-related stocks generally rose. Oracle surged 13.31%, closing at an all-time high, with its total market capitalization reaching $560 billion, surpassing Mastercard and Netflix.

Oracle's earnings report showed that the company's revenue and earnings across all segments exceeded analysts' expectations. To top it off, the company also raised its revenue forecast for the next fiscal year and provided an optimistic outlook for accelerated growth in cloud infrastructure.

Oracle CEO Safra Catz stated on the earnings call that Oracle expects total revenue for fiscal 2026 to reach at least $67 billion, representing a year-over-year increase of approximately 16.7%, up from the previous forecast of 15% growth.

As previously reported by Cailian Press, Trump had announced an AI infrastructure project named "Stargate," with SoftBank, OpenAI, and Oracle as the initial three companies involved in this $500 billion project.

In addition to AI factors, the better-than-expected PPI report before the market open also boosted US stocks. Data showed that the US PPI rose 2.6% YoY in May, in line with expectations; core PPI rose 3%, below the market consensus of 3.1%.

Analysts believe this indicates that tariffs have not yet imposed higher inflationary pressure on consumers, further boosting expectations for a US Fed interest rate cut in September. Similar to yesterday's CPI report, Trump once again pressured the US Fed to cut interest rates after the data release.

Tom Hainlin, Senior Investment Strategist at U.S. Bank Asset Management Group, said that the future direction of US stocks depends on the resolution of tariff issues and how that resolution affects government budgets and US Fed policies.

Hainlin stated, "We believe that the uncertainty surrounding the progress of trade negotiations remains the fundamental situation for the stock market. The market is currently experiencing sideways movement, and it is difficult to see a sustained breakthrough until we reach a conclusion."

Performance of Popular Stocks

Large-cap tech stocks had mixed changes. (Ranked by market capitalization) Microsoft rose by 1.32%, Nvidia rose by 1.52%; Apple rose by 0.21%, Amazon rose by 0.02%, Google C fell by 1.02%, Meta fell by 0.11%, Broadcom rose by 1.25%, and Tesla fell by 2.23%.

US fintech company Chime saw its shares rise by 37.44% on its first day of trading.

Among Chinese ADRs, the Nasdaq Golden Dragon China Index fell by 0.41%.

Most popular Chinese ADRs declined. XPeng Motors fell by 5.87%, NIO fell by 3.21%, Li Auto fell by 1.8%, Alibaba fell by 1.45%, New Oriental fell by 0.96%, and JD.com fell by 0.36%.

Zai Lab rose by 3.94%, Kingsoft Cloud rose by 3.74%, Tencent Music rose by 1.29%, Baidu rose by 0.3%, and Pinduoduo rose by 0.26%.

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