Oracle earnings, May CPI, mortgage data: What to Watch

00:00:06 Speaker A

All right. Time now for to watch Wednesday, June 11th. We’ll start off on the earnings front here. We’re going to be getting some big names tomorrow. That will include Oracle, Chewy, and Victoria’s Secret. Oracle, by the way, announced some results for the fourth quarter after the market close. And it was expecting Oracle’s cloud unit to grow faster than expected, possibly more than 54% this quarter based on results from other names in the space, such as Microsoft and Google.

00:00:38 Speaker B

And taking a look at the economy, we’ll get fresh inflation data coming out in the morning with the Consumer Price Index, that’s CPI. Economists forecast total CPI will hold steady at 0.2%, while core CPI could tick up to 0.3% on a month over month basis. On a year over year basis, total and core CPI expected to rise to 2.5 and 2.8%, respectively.

00:01:08 Speaker A

And moving over to housing, weekly mortgage rate application data, that’s coming out in the morning. Last week’s number, decreasing 3.9% from the week prior, marking the third consecutive week of declines.