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Oracle stock pops 10% on forecast for 35% average revenue growth through 2030
Oracle shares jumped on Wednesday after the software company issued a revenue forecast of $225 billion for fiscal 2030, implying 35% average annual growth, and said it will limit additional fundraising over that stretch to $20 billion. Analysts polled by LSEG expected growth of 8% in fiscal 2027, followed by significant acceleration over the next two years. They're projecting revenue in fiscal 2030 of $224.2 billion.
Fed Will Raise Rates in December, Clarida Predicts
Former Federal Reserve Vice Chairman Richard Clarida expects the Fed to raise rates in December and then possibly again in March. He speaks on "Bloomberg Surveillance:
See how the price of everything has changed with inflation
Inflation tracker: See how the price of everything has changed By Simon Elvery, Jessica Riga and Madi Chwasta Posted If it feels like (almost) everything is getting more expensive, that's because it is. Inflation has jumped, putting Australians on alert for another interest rate rise. The consumer price index rose by 4.3 per cent in the past year, well above the Reserve Bank of Australia's target of 2 to 3 per cent.
Chris Wright Says Diesel Exports From Arabian Gulf Likely to Increase
Energy Secretary Chris Wright said that he expects diesel prices to be 'dropped significantly' but will need increased exports out of the Arabian Gulf to manage it amid the ongoing war with Iran. Wright also Russia's diesel output, saying that the only way Russia can benefit from recently permitted exports of diesel is to deliver a ceasefire on energy or end the war.