S&P 500 Sets Record High; Oracle Plunges on AI Spending Concerns

• S&P 500 reached a record high, reversing earlier losses despite tech sector concerns.
• Oracle shares plunged 11% due to increased AI-related capital expenditures, raising doubts about AI monetization.
• Other sectors like financials and industrials outperformed, broadening the market rally, influenced by Powell's dovish comments.
• The Federal Reserve delivered its third interest-rate cut, while economic data showed rising unemployment claims and a narrowed trade deficit.
• Broadcom gave a strong revenue forecast driven by AI data center demand, contrasting with Oracle's issues.

Why It Matters: Market defies tech concerns, hitting record highs on broader strength and Fed outlook.