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U.S. sources say that U.S. Marines opened fire on protesters at the U.S. consulate in Karachi, Pakistan, last Sunday.Futures analyst Guangda Futures reports: On March 2nd, COMEX gold opened higher and trended upwards, before a sharp sell-off at the close, ending slightly higher at $5335.9 per ounce, a gain of 1.68%. Domestic SHFE gold opened higher but then fell in the night session, closing at 1184.90 yuan per gram, a gain of 1.14%. 1. Data released by the Institute for Supply Management (ISM) on Monday showed that the US ISM Manufacturing PMI fell slightly to 52.4 in February, expanding for the second consecutive month, but the input price index surged to 70.5, a near four-year high. Its worth noting that this data reflects market conditions prior to the US-Israeli airstrikes on Iran this weekend. Afterwards, tanker traffic in the Strait of Hormuz nearly ceased, and international oil prices recorded their largest single-day increase since the Russia-Ukraine war in early 2022 on Monday, meaning that price pressure may continue to rise. Given that tariffs and geopolitical conflicts are creating a persistent undercurrent of inflation, manufacturers may be forced to pass on costs to consumers, squeezing the Federal Reserves room for interest rate cuts. Last night, the US dollar index rose by more than 1%, and precious metals rose and then fell back. 2. Geopolitically, the US-Iran conflict escalated rapidly over the weekend. The joint US-Israel assassination attempt plunged Iran into regime chaos, unexpectedly reigniting geopolitical risks and initially reflecting some safe-haven demand. However, as the conflict progressed, the market gradually withdrew from this safe-haven panic, shifting towards concerns about the closure of the Strait of Hormuz, a rebound in oil prices due to disruptions in oil production facilities, and renewed expectations of global inflation. This had a mixed impact on gold. Inflation expectations are generally favorable for gold prices, but the expectation of a Fed rate cut and further easing has been further delayed. Investors should continue to closely monitor the US-Iran situation. Whether the conflict slows down or escalates further will determine the subsequent trend of gold prices. Strategically, timing is more important than directional choice; avoid chasing highs excessively. (This content and opinion are for reference only and do not constitute any investment advice.)Japans energy minister stated that the suspension of Qatars liquefied natural gas (LNG) operations will not immediately affect the countrys energy supply.The main Shanghai silver futures contract plunged in the short term, falling more than 4.00% intraday, and is currently trading at 22,888.00 yuan/kg.March 3 - Oil prices rose in early Asian trading due to the ongoing Middle East conflict and the persistent high risk of supply disruptions. Kerstin Hottner, head of commodities at Vontobel, stated, "The ongoing military conflict between the US/Israel and Iran has caused turmoil in the global energy market. The Strait of Hormuz, a crucial chokepoint for global energy trade, has effectively ceased operation due to the conflict. As the situation develops, the duration and intensity of the conflict will be key factors shaping the energy landscape in the short term."

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


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