Wall Street Slips as Boeing Dives, Oracle Soars, and Inflation Cools
June 12, 2025 – NEW YORK — U.S. markets took a step back Thursday morning, easing off the highs of a recent rally that had pushed stocks close to record levels.
The S&P 500 slipped 0.3%, while the Nasdaq composite edged down the same. The Dow Jones Industrial Average fell more sharply, dropping 246 points, or 0.6%, weighed heavily by a steep loss in Boeing shares.
Boeing Tumbles After Dreamliner Crash
Boeing shares sank 5.5% following news of a tragic crash involving one of its aircraft. A Boeing 787 Dreamliner operated by Air India crashed into a residential area just five minutes after takeoff from Ahmedabad airport on a flight bound for London. The plane was carrying 242 passengers and crew. The cause of the crash is still under investigation, but the incident put immediate pressure on Boeing’s stock, dragging down the broader Dow index.
Oracle Pops on Strong Earnings
On a brighter note, Oracle surged 9.6% after reporting better-than-expected results for the latest quarter. The tech giant posted strong revenue and profit numbers, offering a rare highlight in an otherwise muted day for markets.
Inflation Cools, Rate Cut Hopes Rise
In economic news, wholesale inflation data came in cooler than expected, echoing Wednesday’s report showing similar relief for consumer prices. Wall Street took this as a sign the Federal Reserve may have more room to cut interest rates later this year without triggering a fresh wave of inflation.
Adding to that sentiment, a report showed that jobless claims ticked up slightly last week, with the total number of people receiving unemployment benefits sitting at an eight-month high. That too helped ease pressure on bond yields, as signs of a softening labor market could nudge the Fed toward easing monetary policy.
The yield on the 10-year Treasury note fell to 4.36%, down from 4.41% the day before, and well off its recent high near 4.80% earlier this year.
A Mixed Bag Overseas
Global markets were mixed. European and Asian indexes mostly saw modest changes, with one notable exception: Hong Kong’s Hang Seng fell 1.4%, giving back some of its recent rally. Still, it remains up nearly 20% year-to-date, making it one of the world’s best-performing markets in 2025 so far.
Source: AP News – Wall Street drifts lower as Boeing sags and Oracle rallies
