S&P 500, Nasdaq Build on Record Highs. PPI Data and Oracle Results Give Market a Boost.

Oracle stock jumped 35% after the company’s earnings report last night showed a big backlog of orders due to demand for cloud-computing infrastructure. Its hard to overstate the excitement behind this stock. “Less than 0.35% of all earnings reports since 2001 have resulted in a stock rally of more than 31% in reaction to earnings, and in those rare instances, the gains have typically been seen in small and micro-cap stocks,” Bespoke Investment Group wrote. Oracle is a large stock that closed with a market value of $680 billion on Tuesday.