Wall Street Brunch: CPI Hits With Eyes On Oil Prices

Oil Market - The oil market is experiencing significant volatility, with WTI crude posting its largest weekly increase since 1983, rising by 36% [3] - WTI and Brent futures traded on the Hyperliquid blockchain have surpassed $95 per barrel, with predictions of further price increases due to geopolitical tensions [3][4] - Kuwait has reduced production and refining, and Qatar's energy minister has indicated that Persian Gulf exporters may shut down production within days, potentially driving oil prices to $150 per barrel [4] Inflation and Economic Indicators - Economists at Goldman Sachs estimate that a sustained 10% increase in oil prices could raise headline CPI by 28 basis points, with projections indicating a rise in U.S. year-over-year headline CPI inflation from 2.4% in January to 3% in May if oil prices remain elevated [5] - The February CPI report is expected to show a 0.3% monthly gain in the headline rate, with the annual rate nudging up to 2.5% [6] - Core CPI is anticipated to rise by 0.2% month-over-month, with the yearly rate holding steady at 2.5% [6] Corporate Earnings - Oracle is set to report earnings, with consensus estimates predicting EPS of $1.70 on $16.91 billion in revenue, focusing on its Cloud Infrastructure revenue growth [8] - Analysts suggest that Oracle may have found a bottom after previous underperformance related to AI capex skepticism, particularly due to its backlog with OpenAI [8] - Other companies reporting this week include Hewlett Packard Enterprise, Adobe, Dick's Sporting Goods, Lennar, and Ulta Beauty [9] Partnerships and Dividends - Novo Nordisk plans to sell its obesity drugs through a telehealth platform operated by Hims & Hers Health, marking a new partnership after a previous deal fell through [10] - Alphabet and FedEx are going ex-dividend on Monday, with payout dates set for March 16 and April 1, respectively [10][11]