The Consumer Price Index (CPI) reading for February saw inflation rise slightly above expectations year-over-year, including in core categories excluding food and energy prices.
Oracle (ORCL) shares have jumped in extended-hours trading since reporting fiscal third-quarter earnings results after the bell on Monday. The stock continues to move in the green ahead of Tuesday's market open.
Southwest Airlines (LUV) reevaluates its 2024 forecast due to delayed aircraft deliveries from Boeing (BA) as the manufacturer becomes the subject of a Department of Justice criminal investigation.
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Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
SEANA SMITH: Three things that you need to know, your roadmap for the trading day. "Yahoo Finance's" Alexandra Canal, Madison Mills, and Jared Blikre have more.
ALEXANDRA CANAL: Hey, Seana. That's right. February's consumer price index out earlier this morning. The headline number coming in a touch higher than expectations, up 3.2% compared to 3.1% that was expected.
Meanwhile that core number, which excludes the volatile categories, like, food and energy, rose 3.8% compared to 3.7% expected.
Futures are now moving higher as investors consider the impact this inflation report could have on the future of the Fed's rate cut path.
MADISON MILLS: And could shares of Oracle be the next big AI play? That's what it looks like in the pre-market this morning with shares of the software company surging here after reporting a spike in orders in its fiscal third quarter driven by booming AI demand.
Former CEO, now, chief technology officer Larry Ellison telling investors on the earnings call that they're, quote, "bringing on enormous amounts of capacity over the next 24 months, because that demand is just so high."
JARED BLIKRE: And shares of Southwest, they are falling pre-market. That's after announcing, it will cut its capacity plans and reevaluate its 2024 financial forecast, thanks to delivery delays from Boeing, its sole supplier of airplanes.
Now, Boeing is under more scrutiny. The company failing 33 of 89 audits conducted by the FAA. That's according to a New York Times report. And the agency finding dozens of issues while investigating Boeing's production of its 737 MAX Jets, following the January Alaska Airlines incident.
