Stock Market Today, March 11: Oracle Surges as Markets Weigh Geopolitical Risks

S&P 500 (^GSPC 0.08%) slipped 0.08% to 6,775.80, the Nasdaq Composite (^IXIC +0.08%) inched up 0.08% to 22,716.13, and the Dow Jones Industrial Average (^DJI 0.61%) fell 0.61% to 47,417.27 as oil and Iran-war jitters outweighed a tame CPI print.

Market movers

Oracle (ORCL +9.18%) jumped after beating earnings expectations. The stock gained 9% to finish at $163.12 easing wider AI fears. In yesterday’s after-close report, it hiked its 2027 guidance and told investors that  AI replacement fears for software firms were exaggerated. Neocloud operator, **Nebius Group ** (NBIS +16.08%), soared on news of a $2 billion investment from Nvidia (NVDA +0.64%).

In contrast, Stryker (SYK 3.62%) sank after a cyberattack hit its network. Solid Biosciences (SLDB 4.34%) pared recent gains. Kosmos Energy (KOS 16.80%) tumbled after announcing a $185.25 million equity issuance. Other energy stocks, such as ExxonMobil (XOM +2.39%) and Chevron (CVX +2.91%) gained as oil prices increased.

What this means for investors

Reaction to today’s positive inflation data was muted. February’s Consumer Price Index showed prices had risen 2.4% in the past year and registered a 0.2% increase since January. Although the figures were in line with analyst expectations, they had little impact on stocks because the data was collected before the war on Iran began.

Crude oil prices rallied again today, despite a commitment from the International Energy Agency to release emergency reserves. Markets now think the Federal Reserve is more likely to cut rates in July than June. Even Oracle’s blowout earnings weren’t enough to prevent defensive selling as investors react to the conflict, Stryker’s cyberattack, and the potential impact of an energy shock.