US Stocks Mixed as Inflation Holds, Oil Breaks $90
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- US consumer inflation rose 2.4% year‑on‑year in February, matching the prior month and meeting expectations.
- Brent oil futures climbed back above $90 per barrel after Germany and Japan announced they would draw on strategic reserves amid supply disruptions.
- Dow Jones Industrial Average slipped 0.2% to 47,626.06 about ten minutes into trading.
- S&P 500 added 0.2% to 6,794.74.
- Nasdaq Composite Index advanced 0.5% to 22,805.35.
- Oracle shares surged 12.8% after the company reported a 22% increase in quarterly revenue to $17.2 billion, driven by AI‑related services demand outpacing supply.
Why it matters: Investors see the inflation reading as a sign that price pressures remain modest, but the oil price surge—driven by strategic reserve releases in Germany and Japan and a Hormuz shutdown—adds cost pressure to energy‑intensive sectors. Oracle’s 12.8% rally benefits shareholders and signals strong demand for AI services.
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