Stocks Extend Gains Into the Close as Tech Leads; Oracle Earnings and FED Take Center Stage

Oracle reports earnings next week 👇

U.S. stocks edged higher into Friday’s close, lifted by megacap technology names and growing expectations for cooling inflation and potential rate cuts. The Dow Jones Industrial Average rose 104.05 points (0.22%) to 47,955.0, according to closing dashboard data. The Nasdaq Composite gained 72.99 points (0.31%) to 23,578.1, while the S&P 500 added 13.28 points (0.19%) to finish at 6,870.40. Small-caps once again lagged, with the Russell 2000 slipping 1.07 points (0.42%) to 251.00.

In commodities, crude oil reversed early weakness to close at $60.06, up 0.65%, while gold fell 0.17% to $4,235.90. Bitcoin extended its pullback, dropping 2.94% to $89,459.60. The CBOE Volatility Index slid 2.41% to 15.40, reflecting a modest easing in market anxiety.

Oracle Earnings Preview

Ahead of Oracle’s earnings next week, CFRA equity analyst Angelo Zino told AInvest that investors should focus less on quarterly figures and more on the company’s message around debt financing, customer concentration, and long-term infrastructure commitments.

“There’s been so much noise… it’s going to be more about the narrative that the company sells here,” Zino said, noting CFRA expects top-line growth of about 16%, with guidance calling for 17% to 18% and revenue exceeding 20% by fiscal year-end.

A major issue for investors is Oracle’s massive bookings pipeline. “They’re going to announce about 500-plus billion in bookings here this quarter. About 300 billion or so of that is tied to OpenAI,” Zino said, highlighting questions about customer concentration and sustainability. The analyst described the bookings trajectory as a “hockey-stick type of inflection,” with the most pronounced ramp occurring beyond fiscal 2027. "If the storyline changes to one where Google is a winner and OpenAI is a loser… that is a risk to Oracle, and Oracle is going to need to find a way to fill that potentially unused, untapped capacity,” Zino said.

Powell’s Future and Expected Rate Cut

The week on Wall Street is also focused on the Federal Open Market Committee (FOMC) meeting (December 9-10). The Federal Reserve will release an updated Summary of Economic Projections, and Chair Jay Powell will hold a press conference on Wednesday afternoon. Investors expect a 25-basis-point interest rate cut but will analyze how the Fed addresses recent softer labor data. Simultaneously, speculation has intensified that Kevin Hassett could replace Powell as Fed Chair, with a potential announcement by President Trump coinciding with the press conference, which would significantly impact the bond market and future rate path.

Netflix–Warner Bros. Deal Reshapes Media Market

Media stocks remained in focus as investors continued reacting to Netflix’s planned acquisition of Warner Bros. Discovery’s studio assets, valued at an enterprise value of $82.7 billion. The companies said the tie-up would combine Warner Bros.’ iconic franchises with Netflix’s global streaming platform.

“Our mission has always been to entertain the world… Together, we can give audiences more of what they love and help define the next century of storytelling,” Netflix co-CEO Ted Sarandos said in the announcement.

Co-CEO Greg Peters emphasized long-term benefits, saying the deal would “improve our offering and accelerate our business for decades to come… creating more value for shareholders.” Warner Bros. Discovery CEO David Zaslav called the combined entity “two of the greatest storytelling companies in the world.”

Meta Expands Real-Time News Content Through Major Media Partnerships

Meta also drew attention after announcing new partnerships aimed at expanding real-time news availability across Meta AI products. The company is integrating content from CNN, Fox News, Fox Sports, Le Monde Group, People Inc., USA TODAY Network, The Daily Caller, and The Washington Examiner.

“Meta AI will now offer a broader range of real-time content… from global, breaking news to entertainment, lifestyle stories, and more,” the company said, adding that it aims to make Meta AI “more responsive, accurate, and balanced.”

With investors preparing for next week’s pivotal FOMC meeting, markets appear increasingly sensitive to shifts in monetary expectations, corporate leverage narratives, and the pace of technology-sector disruption. The combination of an approaching rate decision, a closely watched earnings call from Oracle, and major strategic moves from Netflix and Meta sets the stage for a consequential stretch for Wall Street.