All Eyes on CPI: Big Inflation Day 11/03/2026

HOT stories for today

Market wrap:

• On Tuesday, the S&P 500 and Dow Jones Industrial Average both finished lower, while the Nasdaq Composite edged up 0.01%. Nine of the 11 S&P 500 sectors closed in negative territory, with only communication services and technology posting modest gains. “I think we’re in a period where we have had a bear market already in software, the Mag Seven, and in crypto. I think that’s already taken out a lot of speculation,” Tom Lee, head of research at Fundstrat Global Advisors, said Tuesday on CNBC’s Closing Bell. Oil prices remained highly volatile. Crude had surged to nearly $120 a barrel on Monday as concerns mounted over the war in Iran, before retreating on Tuesday on hopes that a group of countries could tap emergency reserves to ease supply disruptions. Energy prices fell further after Energy Secretary Chris Wright said in a since-deleted social media post that the U.S. Navy had successfully escorted a tanker through the Strait of Hormuz. White House press secretary Karoline Leavitt later said no such escort had taken place.
•  West Texas Intermediate crude fell as low as $76.73 a barrel before settling down nearly 12% at $83.45. Brent crude dropped more than 11% to close at $87.80 a barrel. “To me, the market is actually handling oil prices better ... we think higher oil prices are actually good for the U.S. stock market,” Lee added, noting that the S&P 500 has still risen this week despite the spike in crude. Investors are now looking ahead to Wednesday’s February consumer price index report for fresh signals on the strength of the U.S. economy, particularly as concerns about a softer labor market have increased in recent months. Economists surveyed by Dow Jones expect headline CPI to rise 2.4% from a year earlier.

Oracle Jumps After Earnings Beat, Strong AI Cloud Growth

• Oracle (ORCL) rose about 8% in extended trading on Tuesday after the software company reported quarterly results that topped Wall Street estimates and lifted its long-term revenue forecast. The company now expects fiscal 2027 revenue of roughly $90 billion, above the $86.6 billion forecast from analysts polled by LSEG. For the fiscal third quarter ended Feb. 28, Oracle reported adjusted earnings of $1.79 a share on revenue of $17.19 billion, beating expectations of $1.70 a share and $16.91 billion in revenue. Revenue climbed 22% from a year earlier. Cloud remained the main growth engine.
• Total cloud revenue rose 44% to $8.9 billion, while cloud infrastructure revenue surged 84% to $4.9 billion as demand for AI computing capacity accelerated. Oracle has secured major cloud infrastructure deals tied to artificial intelligence, including contracts with OpenAI, though investors have been cautious about the heavy spending needed to build out that capacity. The company reported negative free cash flow of $13.18 billion over the past 12 months as it ramps up investment in AI infrastructure. Despite the post-earnings rally, Oracle shares are still down about 23% this year and more than 50% below their September peak.

Stocks on the move:

• Hims & Hers Health (HIMS): Shares rose 3% after Bank of America upgraded the telehealth company to neutral from underperform. The move followed Novo Nordisk’s decision to drop its patent-infringement case against Hims and the companies’ agreement to sell Ozempic and Wegovy through Hims’ platform.
• BioNTech (BNTX): U.S.-listed shares of the German biotech company plunged more than 20% after BioNTech said co-founders Ugur Sahin and Özlem Türeci will depart to launch and lead an independent company. The company also reported a fourth-quarter net loss of 305 million euros, or about $355.8 million.
• SolarEdge Technologies (SEDG): Shares surged nearly 10% after Bank of America upgraded the solar company to neutral from underperform, citing improving margins, steadier revenue trends and a more stable liquidity position.
• West Pharmaceutical Services (WST): Shares fell 6% after the company said Chief Executive Officer and Chairman Eric Green plans to retire in the second half of 2026.

Watchlist: ORCL, XOM, COIN, NVDA, HIMS, RIVN, MSFT, AVAV

Key Economic Events Today:

EST time

08:30 am: USD CPI, Core CPI
08:30 am: USD FOMC Member Bowman Speaks
10:30 am: USD Crude Oil Inventories
02:00 pm: USD Federal Budget Balance


Earnings

BMO (Before Market Open): The Campbell’s Company (CPB)

AMC (After Market Close): UIPath (PATH), Netskope (NTSK)


The TEFS Analyst team wishes you a successful day!