The major averages are higher following better than expected earnings from Oracle even as a deadly plane crash occurred in India while tensions with Iran in the Middle East persist. The Dow Jones Industrial Average rose 101points, or 0.24%. The S&P 500 rose 22 points while the Nasdaq rose 46 points.

Shares of Oracle surged 13% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines. The company provided strong guidance for cloud and AI product mix with revenue growth of more than 70% in the 2026 fiscal year, up from growth of 52% in the quarter. The tech sector overall is mixed today.

Dow component Boeing is down 4% after an Air India Dreamliner 787 crashed following takeoff with 242 passengers on board.

The 10-year Treasury yield dropped 5 basis points to 4.36%. The 2-year yield fell 3 basis points, slipping to 3.90%. Yields were lower on benign inflation data. The May producer price index, a measure of final demand prices in the U.S. economy, rose just 0.1% for the month after decreasing 0.2% in April. Economists surveyed by Dow Jones had been looking for a 0.2% increase for last month. Bond yields eased on Thursday following the inflation report.

In the commodity space oil was quiet after a run up this week on rising tensions in the Middle East. Gold is up nearly 2% while bitcoin fell 1.5%.

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