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Stocks fell as investors weighed AI CapEx concerns, Oracle's credit downgrade, Netflix and Tesla earnings, and upcoming Fed and Magnificent 7 reports, plus stock picks across sectors.

Federal AI contracts are pouring into enterprise software order books, and two of the sector's most beaten-down stocks are suddenly surging. Whether today's rally marks a genuine turning point or a fleeting squeeze depends on details buried inside fresh earnings reports and a blockbuster government deal.

Oracle Powers Higher After Landing Potential $7 Billion Federal Contract

Stocktwits data showed retail sentiment is weak, with a shift toward ‘extremely bearish’ on SPY and QQQ.

SpaceX IPO buzz faded as AI volatility, hotter inflation, and a shortened trading week shifted investor focus toward earnings season

Deal will power workforce management for roughly 2 million U.S. federal employees.

The 10-year deal will replace more than 100 separate agency HR systems with a single cloud-based platform serving roughly 2 million federal employees

The Nasdaq Composite tumbled again today after the latest inflation reading and higher oil prices failed to stop the bleeding. Chips were at the heart of the downturn, with the iShares Semiconductor ETF sinking another 3.7%, putting the chip stock benchmark 12% off its June 3 closing high. Industrials were the biggest laggard on Wednesday, dragged down by a swirl of other factors including rising oil prices, and expectations of a Fed interest rate hike.

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