2026.3.12 US Market Close | Market mixed amid Oracle's strong earnings and surging oil prices

On March 12, the New York stock market closed mixed. Strong earnings from Oracle boosted tech stocks and lifted the Nasdaq, but a surge in oil prices due to geopolitical risks fueled inflation concerns, weighing on the Dow and S&P 500, which both finished lower. - Dow Jones: Down 0.6% - Pressured by rising oil prices and inflation fears linked to conflicts involving Iran. - S&P 500: Down 0.08% - Ended slightly lower as headwinds from surging oil prices offset gains in the tech sector. - Nasdaq: Up 0.08% - Oracle's strong earnings report improved investor sentiment across the tech sector. Key Issues - Surging Oil Prices and Inflation Concerns: Escalating conflicts involving Iran caused West Texas Intermediate (WTI) crude oil to jump over 5%, surpassing the $88 per barrel mark and reigniting inflation worries across the market. - AI Hopes Fueled by Oracle: Software giant Oracle saw its stock soar more than 9% after reporting better-than-expected earnings and a strong forecast for AI-related revenue, leading the gains in the tech-heavy Nasdaq. - February CPI Becomes 'Old News': The February Consumer Price Index (CPI) met expectations with a 2.4% year-over-year increase, but its market impact was limited as the data did not reflect the recent spike in oil prices. - Constellation Energy Tumbles: Shares plunged over 5% as investor enthusiasm for its growth potential in powering AI data centers, following its acquisition of Calpine, clashed with concerns over the significant $12.6 billion debt risk. Key Stocks - Oracle (ORCL): Surged over 9% - Announced better-than-expected earnings and a strong forecast for AI-related revenue. - Constellation Energy (CEG): Plunged more than 5% - Faced concerns over the substantial debt burden and financial risks associated with the Calpine acquisition.