Major Averages Slip After CPI Print | Closing Bell

Market Overview - Market faced uncertainty due to Middle East concerns and trade agreement details between the U S and China [1][2][4] - Economic data, including CPI figures, influenced market movements [3] - S&P 500 struggled to break record highs, remaining within a tight range [4][5] Sector Performance - Energy sector was the top performer, with oil prices surging almost 5% to over $68 per barrel [7] - Consumer discretionary and materials sectors experienced declines of more than 1% [7][8] Individual Company Highlights - Netflix expressed optimism despite trade uncertainties and potential tariffs, planning to invest over $1 billion in the UK over the next four years [9][10] - Goldman Sachs maintained a buy rating from Bank of America with a price target of $700, citing resilience in an uncertain environment [10] - McKesson raised its earnings forecast due to broad-based operational momentum, with Morgan Stanley maintaining an overweight rating and raising its price target from $745 to $770 [11][12] - Lockheed Martin shares dropped 42%, the biggest drop since April, after a report that the Air Force cut its request for F-35 jets [14] - Vera Bradley shares fell 19%, experiencing their worst day since the pandemic, and the company suspended its guidance and announced the departure of its CEO [17] Bond Market - Two-year yield decreased by about seven basis points, falling below 4% [19] - The 30-year bond auction is scheduled for tomorrow [20] Earnings Reports - Oracle's fourth-quarter adjusted EPS was $170 per share, exceeding expectations, with revenue also above estimates at $159 billion [22] - Oxford Industries' first-quarter adjusted EPS was $182, beating estimates by one penny, but its second-quarter outlook missed expectations [24][25] - Oracle expects cloud infrastructure growth rates to increase from 50% for its full year 2025 to over 70% in the full year 2026 [26]