It’s been quite a week for the Ellison family! Oracle’s massive rally on Wednesday made cofounder Larry Ellison’s fortune rise by $89 billion to $383 billion, the biggest single-day gain ever. Then yesterday, The Wall Street Journal reported the Ellison family is backing a bid by the newly merged Paramount Skydance (which Larry's son David Ellison heads) to buy all of Warner Bros. Discovery. If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one very big umbrella. 

Disappointing US economic data didn’t stop the S&P 500 and Nasdaq 100 from posting record closing highs again yesterday. A jump in initial jobless claims and slightly firmer-than-expected inflation were easy hurdles for bulls, who sent the overwhelming majority of the S&P 500 upward on Thursday.