Wall Street Rallies as Nasdaq Leads Gains on Wednesday

The stock market closed higher on Wednesday, led by strong performance from technology and AI stocks.

Overall, S&P 500 increased 0.6% to 7,757, while Nasdaq rose 1.1% to 26,703.

Chart of the Day

Here is the one-year chart of Oracle (ORCL) as of September 28, 2026, when the stock was at $133.

Oracle delivered a strong performance last quarter, with profit up 31% on a 30% revenue growth. Cloud Infrastructure was the key growth engine, with revenue surging 121% as customers expanded spending on AI computing capacity and cloud services. Oracle delivered 850 MW of AI capacity with over 300,000 GPUs—3x last quarter’s delivery and 73% of last fiscal year’s total.

Remaining performance obligations (RPO) rose to $664 billion, up $209 billion year on year, reflecting substantial future contracted demand and providing visibility into potential revenue growth. Last quarter, Oracle booked more than $30 billion of additional AI contracts.

The company expects around half of its RPO to convert into revenue over the next 36 months.

Despite this strong performance, ORCL stock continued to decline amid concerns over substantial AI infrastructure spending and financing needs while depending on future revenue.

ORCL was sold from the Conservative Growth Portfolio and Growth Portfolio, as it is a laggard amongst other AI stocks.