Stonks: Fed rates, Oracle jumps, Boeing tumbles, $AAPL 🤝 Affirm

Michael Luo
June 12, 2024

Here’s the latest “under the radar” stock news from Reddit in the last 24 hours that you don’t want to miss, as picked by Fluid Bot’s AI.

🚨 Fed Keeps Rates Steady and Forecasts Only One Cut This Year

Federal Reserve issued a FOMC statement today
The Federal Reserve left interest rates unchanged and signaled one cut in 2024, with more to come in 2025
Fed officials expect to lower rates just once, to 5.1 percent
The Fed's economic forecasts show a relatively cautious outlook with some silver linings, such as expected growth holding up
Investors and economists were surprised by the Fed's forecast for only one rate cut, with greater caution noted in their forecasts

📈 Oracle shares jump on Google and OpenAI deals despite earnings miss

😊 Reddit sentiment: mixed/positive (majority of comments are positive about Oracle's future success, largely due to significant AI deals and growth expectations).
Oracle shares moved 9% higher in extended trading after cloud deals with Google and OpenAI
Bringing database to Google's cloud in November and partnering with OpenAI
Oracle is partnering with Google to bring its database to Google's cloud
Oracle is also partnering with Microsoft and OpenAI to deliver supplemental computing capacity
Oracle's stock has gained 18% this year, outperforming the S&P 500

🛒 Affirm buy now, pay later loans will be embedded into Apple Pay

😊 Reddit sentiment: mixed/positive (comments appreciating moat, convenience, and potential as an investment. Some concerns but still see investment opportunities in partnership with Apple)
Affirm will soon be available to U.S. Apple Pay users on iPhones and iPads
Affirm offers longer-term repayment options compared to Apple's BNPL product
Citigroup, Synchrony, and Fiserv-related issuers will also offer installment loans via Apple Pay
Affirm's stock rose 5% after the partnership announcement

🛬 Boeing sales tumble as the company gets no orders for the 737 Max for the second straight month

😵 Reddit sentiment: negative (majority of the comments are critical of Boeing, citing safety concerns, negative public perception, significant order backlog, and opposition to a government bailout).
No orders for best-selling 737 Max for the second straight month
Boeing had weak aircraft sales in May, only getting orders for four new planes
Airbus reported orders for 27 new planes in May
FAA capping Boeing's production of 737s due to safety concerns
Despite recent slow sales, Boeing has a backlog of over 5,600 orders

🚀 Apple’s Stock Price Reaches All-Time High After WWDC Announcements

😍 Reddit sentiment: positive (Bullish attitudes towards AAPL, positive stock actions such as AI integration and share buybacks).
$AAPL stock price surpassed $200 and reached an all-time high
Apple announced Apple Intelligence AI features with iOS 18, iPadOS 18, and macOS Sequoia
Apple regained second place with $3.1 trillion market cap, trailing only Microsoft at nearly $3.2 trillion
Apple's stock price has reached an all-time high after unveiling its Apple Intelligence suite of AI features
Apple Intelligence features will be available this summer and will have a beta label even after launching to the public

Here’s some other headlines we couldn’t squeeze in: