U.S. Stocks Mixed as Oracle Details AI Spending

U.S. stock indexes finished mixed on Monday as investors evaluated the revenue potential of artificial intelligence infrastructure spending. The Nasdaq Composite dropped 1.1% and the S&P 500 fell 0.5%, while the Dow Jones Industrial Average rose 0.4%.

Oracle provided a specific timetable for its investment cycle in an October 28 filing, projecting that capital spending will peak in FY27-FY28 before declining in FY29. The company plans to limit additional capital-market funding for its FY27-FY30 cycle to $20 billion, split evenly between equity and gross debt. This follows a $20 billion equity raise completed in the first quarter of FY27. Oracle expects its free cash flow to turn positive in the second half of FY28.

In broader economic news, the Federal Reserve maintained the federal funds target range at 3.75% to 4% on October 28, though two members favored a quarter-point increase. Additionally, AMD scheduled its fiscal third-quarter 2026 results report for November 3.