Oracle shares were shooting more than 9% higher in Tuesday’s extended session after the company delivered upbeat guidance that seemed to overshadow earnings miss for the latest quarter. The software company reported fiscal fourth-quarter net income of $3.14 billion, or $1.11 a share, compared with $3.32 billion, or $1.19 a share, in the year-earlier period. On an adjusted basis, Oracle ORCL earned $1.63 a share, whereas analysts tracked by FactSet were expecting $1.65 a share. Revenue rose to $14.29 billion from $13.84 billion, while analysts tracked by FactSet were anticipating $14.56 billion. Oracle reported remaining performance obligations for the fiscal fourth quarter of $98 billion, up 44%. Separately, Oracle announced that it has inked a partnership with Alphabet Inc.’s Google through which customers will be able to combine Oracle Cloud Infrastructure with technology from Google Cloud. “Customers want the flexibility to use multiple clouds,” Oracle Chairman Larry Ellison said in a release. Alphabet Chief Executive Sundar Pichai said that the deal would make it so the “many” customers who pay for products from both companies will be able to “use Oracle database and applications in concert with Google Cloud’s innovative platform and AI capabilities.”

The Switzerland market opened on a slightly positive note Tuesday morning, but slipped into the red after the first hour and then stayed weak right through the day's session, with investors shifting their focus to Fed's policy announcement, and U.S. consumer price inflation data, due later in the week. The benchmark SMI, which advanced to 12,181.69 in early trades, ended down by 64.82 points or 0.53% at 12,072.92. The index touched a low of 12,031.82 in the session. SIG Group ended down by about 4%. Kuehne & Nagel ended 2.88% down. Logitech International, Straumann Holding, Zurich Insurance Group, Lonza Group, Nestle and Richemont lost 1 to 1.4%. UBS Group drifted down nearly 1%. The lender reportedly completed the transition to a single US intermediate holding company on June 7, as part of its integration of Credit Suisse. The group expects to merge its UBS Switzerland unit with Credit Suisse (Schweiz) as soon as July 1. Alcon ended nearly 1% down. Geberit, Lindt & Spruengli, Swiss Re and Swisscom also closed notably lower. VAT Group gained about 1.2%. Roche Holdings, Sonova and Partners Group posted modest gains.

European stocks closed notably lower on Tuesday as investors chose to lighten commitments ahead of the Federal Reserve's monetary policy announcement, and the release of U.S. consumer price inflation data. Markets also digested U.K. employment data and corporate news. Developments on the political front remained on the radar as well. The UK unemployment rate rose slightly in three months to April and wage growth remained strong, the Office for National Statistics reported today. The unemployment rate rose to 4.4% in the three months to April from 4.3% in three months to March. The rate was forecast to remain unchanged at 4.3%. The Fed is widely expected to leave interest rates unchanged, but traders will pay closer attention to Fed officials' updated projections for the economy and rates. The pan European Stoxx 600 dropped 0.93%. The U.K.'s FTSE 100 ended down 0.98%, Germany's DAX drifted down 0.68% and France's CAC 40 lost 1.33%. Switzerland's SMI closed lower by 0.53%. Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Netherlands, Norway, Poland, Portugal, Russia, Spain and Sweden ended weak. Iceland and Turkiye closed higher. In the UK market, Antofagasta, Standard Chartered, Marks & Spencer, Admiral Group, Unite Group, Barclays Group, Sainsbury (J), Land Securities, HSBC Holdings, Natwest Group, Schrodders and Glencore lost 2 to 4.3%. Rio Tinto ended nearly 2% down. The mining giant agreed to acquire Mitsubishi Corp's 11.65 percent stake in Boyne Smelters for an undisclosed sum. Hikma Pharmaceuticals rallied about 2.25%. Rentokil Initial, Convatec Group, ICG and RS Group gained 1 to 1.5%. In the French market, Societe Generale dropped about 5% after reports that the French lender is facing hurdles in selling its securities services unit.

Strong gains for technology stocks helped lift major indexes ahead of Wednesday’s double bill of key inflation data and the Federal Reserve’s interest-rate decision. A day after hitting a record high, the S&P 500 added another 0.3%. The Dow Jones Industrial Average dropped around 121 points, or 0.3%, while a good day for tech shares drove the Nasdaq Composite up 0.9%. Apple was a standout performer, surging 7.3% to reach its first record high of the year a day after the iPhone maker revealed its new AI system. Otherwise, it was a quiet trading session, with investors preparing for two events that should help clarify the outlook for short-term interest rates set by the Fed. Before Wednesday’s opening bell, the Labor Department will release the consumer-price-index report for May, providing an important update on inflation. Economists surveyed by The Wall Street Journal expect that core CPI, which excludes volatile food and energy categories, ticked down to 3.5% in May from 3.6% in April. The S&P 500 spent much of Tuesday in negative territory before climbing into the green later in the session. Information technology led the way among S&P 500 sectors, rising 1.7%, while financials were the worst-performing sector, shedding 1.2%. That included declines in the shares of the country’s largest banks, with JPMorgan Chase falling 2.6% and Bank of America shedding 2%. Boeing shares fell 2.4% after the airplane maker reported that it had delivered 24 jets and booked four orders for planes in May, disappointing investors.

The stock markets in the Asia-Pacific region are showing losses for the most part in the course of trading on Wednesday. Consumer and producer prices for May were published from China. Both were within the expected range and provided little impetus. Consumer prices rose by 0.3 per cent for the fourth time in a row.

In the yield on the 10-year U.S. Treasury note settled at 4.403%, according to Tradeweb, down from 4.468% Monday.

HSBC increases Tui target to 10.20 (9.80) EUR – Buy
Citi increases Eon target to 14.50 (12.70) EUR – Buy
Barclays increases H&M target to 200 (190) SEK – Overweight

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