Oracle traders are preparing for a tough opening bell in 4 hours time as pre-market trade emphasizes yesterday's bearish bias. Despite the risk-off mood, Oracle was range-bound between $86.53 to $89.64 and settled at $86.87.
Non Farm Payrolls data from United States will be released today at 13:30 UTC with analysts expecting a decline to 205,000. Potentially significant price fluctuations in Oracle are expected to follow.
Data from United States concerning Initial Jobless Claims was released yesterday at 13:30 UTC. Newly published figures emphasized continued decline from last month's figure of 190,000 to 211,000 this month.
Oracle was not the only decliner in the technology sector; Intuit falls 2.9% yesterday to close at $416.67. Qualcomm went down to $117.22, losing 3.28% after it closed at $121.2 yesterday. IBM went down 1.48%, closed at $128.05.
Looking ahead, ongoing depreciation may be prolonged as United States Non Farm Payrolls expected to decline to 205,000 while its preceding data was 517,000, data will be available today at 13:30 UTC.
Furthermore, United States Unemployment Rate figure is projected at 3.4. It previously stood at 3.4; data will be released today at 13:30 UTC.
The stock has been trending positively for about 5 months. 5 months ago, the US tech hardware giant fell to a low of $61.07 but has since recovered 44.9%.