Major Indexes Mixed After Inflation Data Matches Expectations; Oil Rises Even Though IEA to Release 400M Barrels of Reserves

Energy Is Top-Performing S&P 500 Sector Wednesday

FROM 6 minutes ago

It’s been a relatively directionless first hour-plus of trading for the S&P 500 thus far Wednesday, but that’s not the case for energy shares.

The S&P 500 Energy Sector easily was the top performer for the benchmark index in early trading, up some 1.8%.

Valero Energy (VLO), Marathon Petroleum (MPC), and Phillips 66 (PSX) paced the sector with respective gains of about 5%, 4.5%, and 4%.

Energy shares were aided by the price of oil, which rose 4% in recent trading to near $87 a barrel.

Five of the 11 sectors tracked by the index were in the green, but the next-biggest gain sat at near 0.5%, by Consumer Discretionary shares.

Gas Prices Have Jumped Since the Iran War Began, But Is It Enough to Keep Americans Off the Roads?

FROM 58 minutes ago

Gas prices are up sharply since the start of the Iran war, but experts say they have a ways to go before Americans start canceling roadtrips and trading in their SUVs for EVs. 

The price of a gallon of gas at Casey’s General Store (CASY) has risen about 30 cents since the war in Iran began, putting the chain’s average fuel price “in the low $3 a gallon range,” said CEO Darren Rebelez in the company’s quarterly earnings call on Monday evening. “That’s still 30 cents below the starting point when the Ukraine war began,” Rebelez added. “So, we’re actually sitting in a really low position.”1

Oil and gas prices have soared since the U.S. and Israel began strikes against Iran late last month. Crude oil on Sunday jumped above $100 a barrel for the first time since Russia invaded Ukraine in 2022. Prices moderated Monday and were down 8% Tuesday afternoon as world leaders mulled ways to ease the oil supply crunch stemming from Iran’s closure of the Strait of Hormuz, a vital link in the global energy supply chain. 

Read the full article here.

–Colin Laidley

Inflation Stayed Steady Ahead of Iran War

FROM 1 hr 35 min ago

A key measure of inflation stayed steady in February before the war in Iran sent gas prices soaring.

The cost of living as measured by the Consumer Price Index rose 2.4% over 12 months in February, the Bureau of Labor Statistics said Wednesday. That was the same annual increase as in January and matched forecasts from a survey of economists by Dow Jones Newswires and The Wall Street Journal. “Core” prices, excluding the volatile categories of food and energy, rose 2.5% over the year, also the same as the previous month and in line with expectations.

The report showed inflation’s trajectory remained steady ahead of the war in Iran, which has driven national average gasoline prices up by more than 50 cents a gallon over the last two weeks. Fighting has disrupted shipping from the oil-producing region.

Inflation has stubbornly remained above the Federal Reserve’s 2% annual target as tariffs have pushed up prices for some goods, even as housing inflation has cooled. Inflation surged in late 2021 as the economy reopened from COVID-19 restrictions and has yet to cool down to pre-pandemic levels.

–Diccon Hyatt

Apple’s Newest Phone and Laptop Are More Budget-Friendly. Premium Products Could Be Next

FROM 1 hr 43 min ago

Apple’s latest product strategy isn’t about cutting-edge technology. It’s about being more—and less—affordable.

The iPhone maker last week announced a series of more affordable devices, including the MacBook Neo and iPhone 17e. ButApple (AAPL) is also working on a lineup of premium products that could come next, according to a weekend Bloomberg report. Apple did not respond to Investopedia’s request for comment in time for publication.

While Apple announced updates to its MacBook Air and Pro lineups, as well as a new iPad Air, it’s the budget-friendly MacBook Neo and iPhone 17e that have so far drawn the most attention from analysts and reviewers.

At about $600, some early reviews have suggested Apple’s MacBook Neo could give many of its PC rivals a run for their money. At a time when a number of PC vendors are raising prices, analysts at Goldman Sachs recently wrote, the move could help win Apple new users who might otherwise have shopped brands like Dell (DELL), Lenovo and HP (HPQ).

Read the full article here.

–Kara Greenberg

Oracle Boosts Outlook Amid Huge AI Demand. The Stock Is Surging

FROM 2 hr 12 min ago

Oracle turned in a strong quarter and raised its long-term outlook on strong AI demand. Will it be enough to bring its stock out of its slump?

Shares of Oracle were up about 9% in extended trading after the company said it had an “exceptional” quarter, in what could point to the start of a reversal in its recent decline.

Oracle posted adjusted earnings per share of $1.79 on a 22% year-over-year jump in revenue to a record $17.2 billion for the company’s fiscal third quarter. Both figures topped analysts’ estimates compiled by Visible Alpha.

Meanwhile, the company’s backlog more than quadrupled to a record $553 billion. Oracle said most of the growth “related to large scale AI contracts,” and that it doesn’t expect to have to raise any incremental funds to service those agreements.

Looking ahead, Oracle raised its revenue outlook for fiscal 2027 to $90 billion. It kept its 2026 guidance steady at $67 billion.

Read the full article here.

–Kara Greenberg

Campbell’s Stock Drops on Lowered Outlook Due to Snacks Weakness

FROM 3 hr 2 min ago

The Campbell’s Company (CPB) sees near-term weakness in its Snacks business. Investors are selling the stock.

Campbell’s shares fell 4% in premarket trading Wednesday after the company, known for its namesake soup brand, reported weaker-than-expected fiscal 2026 second-quarter results and lowered its full-year outlook.

The Camden, N.J.-based firm reported adjusted earnings of $0.51 per share on net sales that declined 5% year-over-year to $2.56 billion. Analysts polled by Visible Alpha had expected $0.57 and $2.61 billion, respectively.

The results “fell short of our expectations due to weaker-than-expected performance in Snacks and storm-related shipment disruptions,” CEO Mick Beekhuizen said. “To stabilize Snacks, we are taking decisive action, focused on sharpening our value, new product innovation and in-market execution. We are also accelerating cost-saving initiatives to mitigate cost headwinds and support continued investment in our brands.” 

In addition, “largely driven by the near-term outlook for our Snacks business and select incremental trade investments,” the company lowered its full-year guidance “to reflect a more cautious view for the balance of the year.” It now sees adjusted EPS of $2.15 to $2.25, down from $2.40 to $2.55, and organic net sales down 2% to 1%, from the prior range of down 1% to up 1%.

Campbell’s shares entered the day down 40% over the past 12 months, including 11% since the start of the year.

Cintas Acquiring UniFirst for $5.5B

FROM 3 hr 28 min ago

Cintas’ latest offer to buy UniFirst proved acceptable to its rival in the workplace-uniform space.

Shares of UniFirst (UNF) soared 9% in premarket trading Wednesday after the firm agreed to be acquired by Cintas (CTAS) for $310.00 per share in cash and stock.

The deal, which has an enterprise value of about $5.5 billion, is seen closing in the second half of calendar 2026, the companies said.

“The UniFirst Board of Directors is pleased to have reached an agreement with Cintas that maximizes value for our shareholders and provides the opportunity to participate in the compelling future upside of the combined company,” board chair Joseph Nowicki said.

In January 2025, after several attempts to acquire UniFirst, Cintas submitted a proposal to acquire the Wilmington, Mass.-based company for $275.00 per share in cash, but it terminated discussions two months later after CEO Todd Schneider said the Cincinnati-based firm was “unable to have substantive engagement with UniFirst regarding key transaction terms.”

UniFirst shares, which closed near $258 yesterday, had added a third of their value year-to-date entering Wednesday’s session. Cintas shares, which slipped 2% before the bell, entered the day up about 4% this year.

Stock Futures Little Changed Ahead of Consumer Inflation Data

FROM 4 hr 11 min ago

Futures contracts connected to the Dow Jones Industrial Average pointed 0.1% lower.

S&P 500 futures were near flat.

Nasdaq 100 futures also were little changed.