Oracle, Adobe, Copart, RH, Chevron, and More Stocks That Explain Today’s Market

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Traders working on the floor of the New York Stock Exchange. (Spencer Platt/Getty Images)

Key Points

Stock futures rose as retreating oil prices encouraged investors to buy the dip ahead of the August inflation report.
Oracle shares rose in premarket trading after the software giant beat analysts’ fiscal first-quarter earnings target.
Adobe shares declined despite third-quarter earnings topping expectations, as AI worries continued to weigh on the stock.

Stock futures were rising on Friday as oil prices retreated, encouraging investors to buy the dip ahead of the high-stakes August inflation report.

Oracle rose 7.2% in premarket trading after the software giant beat analysts’ earnings target for its fiscal first quarter. The results also helped ease some concerns about Oracle’s reliance on OpenAI.

Adobe declined 3.7%. The web design tool developer’s third-quarter earnings topped Wall Street’s expectations, but that wasn’t enough to revive sentiment for a stock that has been battered by AI worries.

Copart advanced 6% after the online car seller said it had agreed to buy rival ACV in a deal with an implied equity value of about $1.9 billion, which helped investors to shrug off a fourth-quarter earnings miss.

RH jumped 8.2% after the furniture retailer smashed analysts’ second-quarter profit estimates and said that recent brand expansion could double its overall total addressable market.

Chevron and ExxonMobil were among the oil stocks sliding as U.S. crude futures dipped back below $100 a barrel. APA, Occidental Petroleum, and SLB were also falling ahead of the opening bell.

Write to George Glover at george.glover@dowjones.com

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