Happy Monday. U.S. benchmarks saw a modest rebound after a rough Friday, which saw the S&P 500's Tech sector decline over 5%. While today looked initially promising, most of today's gains came undone in the closing hour of trading. Amid the mood in markets, Meta reportedly delayed its first closed source AI model, United CEO Scott Kirby signaled that the airline industry might be facing a big shift amid high oil prices, and the forthcoming SpaceX IPO continued to draw mixed reactions from analysts.
Oracle's Wednesday earnings call will offer the latest insights into how the cloud giant is adjusting to life as a hyperscaler. Fresh off raising billions to shore up its tight balance sheet, the company is in much better shape, but make no mistake: it's still betting big and still isn't in the clear.
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