CME Group Dips After Outage; Oracle Declines; Sandisk Rallies
Nov 28, 2025
A major outage at the Chicago Mercantile Exchange disrupted trading, impacting various markets. Meanwhile, Oracle's shares fell as concerns about rising debt and AI spending grew, raising alarms in the finance community. In a brighter note, Sandisk saw shares rallying amid talks of a new NAND flash memory plant in the U.S. This comes as Micron benefits from a surge in memory prices driven by AI demand.
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Exchange Outage Shows Market Fragility
CME Group's outage constrained price discovery across futures and options, forcing reliance on cash trading for many market participants.
The timing on a low-volume post-Thanksgiving day limited damage but highlighted systemic vulnerability in exchange infrastructure.
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Oracle's AI Buildout Raises Funding Concerns
Morgan Stanley warns Oracle's heavy AI spending and recent $18 billion borrowing create a potential funding gap and elevated debt risk.
Oracle's five-year CDS prices are near crisis-era levels, signaling investor anxiety about its capital plans.
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Memory Demand Spurs US Factory Talks
Reports link SanDisk to a potential US NAND flash plant backed by Japan and the US, reflecting strategic moves to secure memory supply for AI demand.
Memory prices and demand for chips have surged, fueling rallies for SanDisk and peers like Micron.
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On this episode of Stock Movers: - Shares of CME Group (CME) dipped in the premarket session after trading of futures and options on the Chicago Mercantile Exchange was halted by a data-center fault, causing hours of disruption to markets across equities, foreign exchange, bonds and commodities. The malfunction was caused by cooling system problems at a data center in the Chicago area, according to facility operator CyrusOne. Engineering teams have restarted several chillers and deployed temporary cooling equipment, a spokesperson said, without giving a time for the resumption of normal operations. - Shares of Oracle (ORCL) declined in early trading after Morgan Stanley warned a gauge of risk on Oracle Corp.’s debt reached a three-year high in November, and things are only going to get worse in 2026 unless the database giant is able to assuage investor anxiety about a massive artificial intelligence spending spree. A funding gap, swelling balance sheet and obsolescence risk are just some of the hazards Oracle is facing, according to Lindsay Tyler and David Hamburger, credit analysts at the brokerage. The cost of insuring Oracle Corp.’s debt against default over the next five years rose to 1.25 percentage point a year on Tuesday, according to ICE Data Services. - Shares of Sandisk (SNDK) rallied ahead of the US market open on reports Japan and the US are considering building a NAND flash memory plant in the US through a public-private partnership with Kioxia Holdings and SanDisk seen as the main investors. According to Nikkan Kogyo, challenges to plan including disagreements over capital structure and management control, as well as potential Chinese regulatory issues.
Stock Movers