Closing Bell: Tech Momentum Drives Markets Higher This Week

Key Points

• Equities moved higher after CPI came in below expectations, boosting optimism for potential additional FOMC rate cuts in 2026.
• Headline CPI rose 2.7% YoY and core CPI increased 2.6% YoY, both below forecasts, driven by declines in lodging, recreation, and apparel prices.
• Nike beat revenue and EPS estimates, but shares fell ~5% after the company reported a 300-bp margin decline and warned of further margin pressure.

Markets moved higher as quarterly options expiration triggered institutional rebalancing ahead of 2026. The S&P 500 (SPX) gained 0.88%, the Nasdaq-100 (NDX) surged 1.31%, and the Russell 2000 (RUT) also finished higher, up 0.86%. Information Technology, Health Care, and Industrials led the advance, while Utilities and Consumer Staples lagged.

Oracle Benefits from TikTok Deal

According to a memo from TikTok CEO Shou Zi Chew, the new U.S.-centric TikTok platform will operate under an entity named TikTok USDS Joint Venture LLC. Under the structure, 50% of the company will be owned by U.S. investors led by Oracle (ORCL), Silver Lake, and MGX, while ByteDance will retain nearly 20% ownership. Oracle will serve as a “trusted security partner,” responsible for ensuring compliance with U.S. laws related to data protection and national security.

CoreWeave Surges Over 22% on Department of Energy Deal

CoreWeave (CRWV) announced a partnership with the Department of Energy as part of the “Genesis Mission,” under which the company will provide hardware support to assist the DOE in building out AI platforms, supercomputing centers, and broader scientific infrastructure.

Key Market Events for Monday

• None

Notable Earnings for Monday

• None

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Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.