S&P Futures Waver as Middle East Conflict Uncertainty Persists, U.S. Inflation Data in Focus

Market Overview - Wall Street's major indexes ended mixed, with Centene (CNC) plunging over -15% due to falling enrollment in its Affordable Care Act business [2] - Software stocks faced declines, with Thomson Reuters (TRI) sliding over -7% and Datadog (DDOG) falling more than -4% [2] - Energy stocks also fell amid a slump in oil prices, with Occidental Petroleum (OXY) dropping over -3% and APA Corp. (APA) falling more than -2% [2] - On a positive note, Vertex Pharmaceuticals (VRTX) surged over +8% after a successful late-stage trial for a kidney disease treatment [2] Corporate Earnings and Guidance - Oracle (ORCL) jumped over +10% in pre-market trading after posting upbeat FQ3 results and raising its fiscal 2027 revenue guidance [3][17] - UniFirst (UNF) surged over +13% in pre-market trading following Cintas' agreement to acquire the company for $310 per share [18] - Nike (NKE) rose more than +2% after Barclays upgraded the stock to Overweight with a price target of $73 [18] - AeroVironment (AVAV) plunged over -9% after reporting weaker-than-expected FQ3 results and cutting its full-year guidance [18] Economic Data and Inflation - U.S. existing home sales unexpectedly rose +1.7% m/m to 4.09 million in February, surpassing expectations [6] - The upcoming U.S. consumer inflation report for February is anticipated to show a +0.3% m/m increase and +2.4% y/y, compared to previous figures of +0.2% m/m and +2.4% y/y [7] - The Federal Reserve is expected to hold rates steady at the next meeting, with the CPI report influencing future rate expectations [8][10] Geopolitical Impact on Markets - The Middle East conflict continues to affect market sentiment, with oil prices rising over +4% following attacks on vessels in the Strait of Hormuz [5] - The International Energy Agency is considering the largest emergency oil reserve release in its history [4] - European markets are reacting to rising oil prices, with the Euro Stoxx 50 Index down -0.89% as industrial and financial stocks slump [12] Stock Market Trends - Japan's Nikkei 225 Stock Index closed higher, buoyed by Oracle's results and a proposed release of oil reserves by the International Energy Agency [15] - Chinese markets showed resilience amid geopolitical tensions, with the Shanghai Composite Index closing up +0.25% [14] - The bond market saw the yield on the benchmark 10-year U.S. Treasury note rise to 4.17%, up +0.22% [11]