The Energy sector (up +1.10%) led a recovery on Wall Street US as traders eyed the conclusion of the Federal Reserve's two-day monetary policy meeting - Dow up +116-points or +0.47% and The broader S&P500 edged +0.15% higher despite Oracle tumbling -9.4% (the biggest one-day percentage decline since June 2013) after the company’s quarterly earnings report and forecast disappointed Wall Street’s expectations over cloud-software growth. The technology-centric NASDAQ added +0.27% despite Facebook (down -2.80%) continuing to labour amid the unfolding controversy around third party access to users' personal data. Social media peer Twitter tumbled -10.4% following a Bloomberg report that the company faces possible legal action from the Israeli government for not following requests to remove content linked to terrorism. Amazon rose +2.7% (to US$1,588 per share) to usurp Google parent Alphabet (down -0.4%) as the worst most valuable company with a market capitalisatio of US$768B, trailing just Apple. Goldman Sachs says Amazon's share price could "easily" hit between US$1,800 and US$1,900 this year, citing market estimates for the company's cloud and retail business as too low. Elsewhere in broader stock-specific moves and news, FedEx rallied ~4% in after hours trading after reporting fiscal third-quarter earnings (adjusted US$1.02B or US$3.72 per share versus consensus US$3.11 per share) and sales (US$16.5B versus consensus US$16.2B) above consensus expectations. Trade ware concerns also continue to linger, with Agence France Press quoting US Treasury Secretary Steve Mnuchin as saying a trade war "is not our goal, but we are not afraid of it."
