Stock Market Falls In Volatile Week As Oil Prices Surge; Oracle, Nvidia Buoy AI Plays: Weekly Review

Stock Market Overview - The stock market experienced volatility, initially rising on optimism regarding the Iran war but ultimately retreating due to surging oil prices, which reached nearly $120 per barrel before closing at multi-year highs [1] - Major indexes fell back toward their 200-day moving averages, with the Nasdaq performing relatively better due to strong AI hardware performance [1] Economic Data - Mixed economic data was reported, with core inflation holding near a five-year low of 2.5% in February, while the core PCE price index rose to 3.1% in January, exceeding expectations [1] - Job openings increased by 396,000 to 6.95 million, although this number remains lower than the unemployed count [1] - Fourth-quarter GDP growth was revised down to 0.7% due to the impact of a government shutdown [1] Oil Market Dynamics - U.S. crude futures spiked to nearly $120 per barrel but fell back as major consuming nations planned to release 400 million barrels from reserves, including 172 million from the U.S. [1] - The closure of the Strait of Hormuz and attacks on oil tankers in Iraq have raised concerns about supply disruptions, leading to increased prices for energy, fertilizer, and chemicals stocks [1] Company Highlights Oracle - Oracle's stock surged following strong earnings, with adjusted earnings up 21% to $1.79 per share and sales climbing 22% to $17.2 billion, both exceeding fiscal Q3 2026 expectations [1] - The company raised its fiscal 2027 sales forecast, indicating a projected 34% year-over-year growth, driven by increasing demand for cloud computing for AI [1] Nvidia - Nvidia announced significant investments in AI startups, including a $2 billion investment in data center operator Nebius Group and an unspecified investment in Thinking Machines Lab, raising concerns about circular financing [1] - Nvidia's stock rose modestly, while Nebius's shares jumped following the investment news [1] Adobe - Adobe reported better-than-expected fiscal first-quarter results, with EPS rising 19% and revenue climbing 12% to $6.4 billion, but shares fell after CEO Shantanu Narayen announced his departure [1] Rubrik - Rubrik reported a surprise adjusted profit for the second consecutive quarter, with revenue increasing 46% to $378 million, primarily from subscription software sales [1] - The company guided higher for fiscal Q1 and 2027 revenue, although shares fell for the week [1] Other Companies - Nio reported its first-ever quarterly profit with a 76% revenue increase to $4.95 billion, while Li Auto's revenue fell 35% to $4.11 billion, missing expectations [2] - Boeing delivered 51 commercial planes in February, outpacing Airbus, but faced stock declines amid concerns related to the Iran war [2]