News Summary: Oracle's weak sales drag on stocks

AP News
Posted: Mar 21, 2013 5:22 PM

ORACLE, THE ORACLE: Stocks closed lower on Wall Street Thursday after Oracle's weak sales results weighed down big U.S. technology companies. Oracle's results have an outsized impact on other technology stocks because it reports earlier than most of its peers.

HOPE SPRINGS: Despite being down for the week, U.S. stocks remain near multi-year highs after a rally powered by optimism about the U.S. economy and the Federal Reserve's easy-money policies.

EUROPE AGAIN: U.S. stocks followed European markets lower on fear that the crisis in Cyprus will intensify. The European Central Bank has threatened to end emergency support of the nation's banks next week unless leaders can secure more funding.