What the market needs is a bit good news to cheer it up and it might have received that in the form of Oracle's earnings release tonight. Fresh off Sun's acquisition Oracle reported earnings of $0.46/share, handily beating the analysts' estimates. In response, Oracle's shares rose 4% in after-hours trading.
Oracle's good news could bode well for the market tomorrow, specially for the tech sector so we may finally see some solid gains. The rosy earnings could be interpreted as a signal that businesses have started robust spending. That should eventually translate into more hiring which is exactly what this economy needs to pull it out of its long malaise.
