Investors are closely monitoring the stock market today as S&P 500 and Nasdaq futures show upward momentum following a surprising inflation report. Here are the key highlights:
CPI Surprise: The Consumer Price Index (CPI) for February revealed a 3.2% year-over-year increase in consumer prices, indicating elevated inflation. This data is crucial for the Federal Reserve’s upcoming interest rate decision.
Boeing Issues Impact Southwest: Southwest Airlines (LUV) announced capacity cuts due to ongoing problems with Boeing’s (BA) 737 Max planes. Investors are closely watching how this development affects the airline industry.
Oracle’s Strong Earnings: Tech giant Oracle (ORCL) reported better-than-expected fiscal third-quarter earnings. Additionally, Oracle teased an upcoming announcement with chipmaker NVIDIA (NVDA), driving its stock price higher.
Market Expectations: The CPI release influences market expectations regarding the timing of a potential Federal Reserve interest-rate cut. The “core” CPI, which excludes food and energy prices, rose by 0.4% in February and 3.1% year-on-year, surpassing estimates.
Bitcoin Continues Rally: Bitcoin (BTC-USD) reached a record high of $72,120, driven by surging inflows into crypto assets. Some predict bitcoin could reach as high as $350,000 this year.
Corporate Developments: Oracle’s cloud computing progress and collaboration with NVIDIA are boosting investor confidence.
Comments
Post a Comment