--- title: "The Week Ahead: Oracle Earnings Test the AI Trade; US Inflation and the ECB in Focus" type: "News" locale: "en" url: "https://longbridge.com/en/news/298145355.md" description: "Oracle's Thursday (post) report is the week's key earnings test for the AI trade, US August CPI and PPI feed the Fed's September decision and the ECB meets Thursday, after the STI rose 1.79% to 5,801.96 last week." datetime: "2026-09-07T00:16:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/298145355.md) - [en](https://longbridge.com/en/news/298145355.md) - [zh-HK](https://longbridge.com/zh-HK/news/298145355.md) generator: "portal-rs" --- # The Week Ahead: Oracle Earnings Test the AI Trade; US Inflation and the ECB in Focus Wall Street ended last week roughly flat — the S&P 500 added 0.09% to 7,718.60, the Nasdaq Composite gained 0.40% to 26,506.99 and the Dow Jones Industrial Average slipped 0.27% to 53,414.25 — while Singapore's Straits Times Index rose 1.79% to 5,801.96. US markets are shut Monday for Labor Day, leaving Oracle's results, fresh US inflation data and the European Central Bank decision to set the tone for a shortened week. Earnings calendar — the week's main event Thu: **Oracle (post)** Oracle is the sole heavyweight on a sparse US calendar, reporting fiscal first-quarter 2027 results after Thursday's close. Consensus is for earnings per share near US$1.30 on revenue of about US$19.1 billion, but the market's focus will be the growth and backlog of its cloud infrastructure business — the latest test of whether corporate AI spending is still expanding. The context is busy: Nvidia has reportedly agreed to pay about US$13 billion for AI platform Hugging Face, keeping the infrastructure-spending debate at the centre of the tape. Singapore's reporting season, by contrast, has wound down, with no notable SGX-listed company scheduled this week. Economic calendar — a shortened US week, heavier data later Monday's US holiday pushes the first release to Tuesday, when the NFIB small-business optimism index for August is due (prior 99.8). The pivotal numbers come later in the week: August CPI and PPI, which will feed into the Federal Reserve's September decision. The European Central Bank announces its policy decision on Thursday, with the euro area's August inflation at a three-year high. In Asia, China's August foreign-exchange reserves are due Monday (consensus about US$3.425 trillion, prior US$3.419 trillion), followed on Tuesday by trade data expected to show a US$120 billion surplus, wider than July's US$112.5 billion; China's August CPI and PPI also land this week. Singapore's July retail sales (prior +4% year on year) and August official reserves (prior about US$427.9 billion) are both scheduled for Monday. US: what to watch Oracle's Thursday report is the defining catalyst for the AI trade, and the narrative around it is crowded: Nvidia, trading near record highs, has made AI consolidation a market story of its own, and analysts quoted in the press said its Hugging Face deal widens its ecosystem at a time when rivals are pushing custom silicon. Apple also holds its autumn product event this week — the first under chief executive John Ternus, who has succeeded Tim Cook as Cook moves to chairman — with reports expecting the company's first foldable iPhone among the new devices. Between those headlines, the August inflation prints will shape expectations for the Fed's September meeting, and the ECB's tone will set the direction for global bond markets. Singapore: what to watch The STI ended last week at 5,801.96 after a 1.79% advance, comfortably ahead of the flat-to-mixed moves in New York. With the local earnings calendar empty, July retail sales and August official reserves — both due Monday — are the only scheduled domestic catalysts. In their absence, the index's path will be set largely offshore: Oracle's guidance and the US inflation prints will test the AI and rate assumptions underpinning the regional rally, and Singapore's banks and index heavyweights are the channels through which any shift in global sentiment would feed into the STI. Risks to watch The biggest wildcard is concentration in the AI trade: with Nvidia near its highs, Oracle's Thursday report is the week's main test of that complex, and a soft print or cautious guidance could ripple through technology and regional markets. On rates, an upside surprise in US CPI or PPI would firm expectations of Federal Reserve tightening in September, while the ECB's communication carries similar weight in Europe given the euro area's three-year-high inflation. Geopolitics is a quieter undercurrent: Citi has lifted its gold forecasts, citing geopolitical and macro factors, and reported Russian gold flows through Hong Kong toward China underscore shifting bullion routes. US politics adds another layer, with President Trump's embrace of AI data centres a point of tension ahead of November's midterm elections, per Bloomberg. For information only; not investment advice. ### Related Stocks - [ORCL.US](https://longbridge.com/en/quote/ORCL.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) ## Related News & Research - [An NEA partner says not every AI task needs frontier intelligence](https://longbridge.com/en/news/298434703.md) - ['Fast Money' traders look ahead to Apple launch event](https://longbridge.com/en/news/298370729.md) - [Oracle vs. Nebius: One AI Stock Is Cheap, the Other’s Valuation Demands Perfection, Says Top Investor](https://longbridge.com/en/news/298221869.md) - [How Meta tried, and failed, to grab its employees' data for AI](https://longbridge.com/en/news/298706095.md) - [The AI doomsdayers aren't new. You just weren't paying attention.](https://longbridge.com/en/news/298706050.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**