TradingKey – U.S. inflation data heated up again, driving markets to reprice the Federal Reserve’s rate path, and Oracle (ORCL)’s stock came under pressure as a result. On October 14 Eastern Time, Oracle’s stock dropped over 7% intraday.
From pre-market trading, the stock plunged sharply after the U.S. Bureau of Labor Statistics released September’s Consumer Price Index (CPI) data at 8:30 a.m. ET, coinciding almost exactly with the release of the inflation data.
Oracle pre-market stock chart, source: FUTUBULL
Hot Inflation Data Drives Up Rate Hike Expectations
According to data released by the U.S. Bureau of Labor Statistics, the U.S. core CPI rose 2.6% year-over-year in September, higher than the market expectation of 2.5%, and gained 0.3%…
