WTI Crude and Brent Crude are both trading higher today, inching closer to the $100-per-barrel level once again.
According to reports, the energy index rose by nearly 11% last month, its biggest increase in over 20 years.
President Trump has just posted about Palantir Technologies (Nasdaq: PLTR), saying, “Palantir Technologies has proven to have great war fighting capabilities and equipment.”
The stock is off 2% today.
The Nasdaq Composite is now up 0.67%.
Inflation cooled slightly in March. The CPI index rose 3.3% year-over-year, nudging below the 3.4% estimate, while core CPI came in at 2.6%, also lower than forecasts.
The real story was at the pump. Gasoline prices surged 21.2% in March, driving overall energy costs up 10.9% on the month and marking the biggest monthly energy spike since 2005, a consequence of the Iran war’s grip on oil supply.
The silver lining: core inflation, which strips out food and energy, rose just 0.2% for a second straight month, less than the 0.3% forecast, suggesting the energy shock hasn’t fully spread in the economy.
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With uncertainty from the Mideast conflict still looming, markets have chosen to see the glass half full this week. The Nasdaq Composite is on pace for a 4.8% five-session gain, while the S&P 500 is eyeing its best weekly run in nearly a year, in what Bloomberg has dubbed a “ceasefire rally.”
On the economic front, inflation cooled slightly in March. The Consumer Price Index rose 3.3% year-over-year, nudging below the 3.4% estimate. Bank of America is holding firm on its forecast for two rate cuts in 2026, making the case that policymakers will see through supply-side inflation pressures, tepid wage gains, and the growing din of political interference.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 47,087 Down 0.20%
Nasdaq Composite: 22,912 Up 0.40%
S&P 500: 6,831 Up 0.10%
AI powerhouse Anthropic has signed a multi-year deal to rent data center capacity from CoreWeave (Nasdaq: CRWV) to help power the deployment of its Claude AI models.
In the chip race, Taiwan Semiconductor (NYSE: TSM | TSM Price Prediction) posted March revenue of $13.07 billion, up 31% year-over-year, a signal that AI chip demand is showing no signs of letting up.
Snap (NYSE: SNAP) and Qualcomm (Nasdaq: QCOM) have signed a multi-year deal to power future Specs eyewear with Snapdragon XR chips, with standalone AR glasses set to launch later this year. The partnership is focused on on-device AI, graphics, and multiuser experiences.
Broadcom (Nasdaq: AVGO) is up 4.3% today alongside gains in Super Micro Computer (Nasdaq: SMCI), tacking on 4.2%. The tech gains aren’t broad based, as on the flip side, Datadog (Nasdaq: DDOG) is down 5.3% and Palantir Tech (Nasdaq: PLTR) is losing4%.
German software stock SAP (NYSE: SAP), which trades as an ADR, has shaved off 33.8% in the past three months amid a broader drawdown in software that’s also pulled Microsoft (Nasdaq: MSFT) lower by 22.1% in the same period.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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