Kim Kahn

And in the Wall Street research corner, Wedbush securities analyst Dan Ives is pushing back against the ongoing software sector sell-off

calling it the most disconnected technology trade he has seen in 15 to 20 years.

Ives argues that fears of AI disrupting traditional software companies have been overblown, leading to what he calls an AI ghost trade that unfairly punished the group.

It's ultimately software, the use cases from Salesforce to ServiceNow to cybersecurity, that's going to protect CrowdStrike, Palo Alto Networks, and others, Ives said.

I think it's the most sold-off I've seen in this sector in decades.

Welcome to Seeking Alpha's Wall Street Brunch, our Sunday look-ahead to this week's market-moving events, along with the weekend's top news and analysis.

Hello, today is Sunday, March 8th, and I'm your host, Kim Kahn.

The oil market will remain the key focus this week after WTI Crude posted its biggest weekly rise since the contract launched in 1983, up 36%.

WTI and Brent futures that have traded on the hyperliquid blockchain topped $95 a barrel over the weekend.

On IG Group's weekend market, which offers spread betting and CFDs, U.S.

crude was trading just below 95.

Kuwait has reduced production and refining as the conflict in the Middle East sends ripple effects across the region, including a near-total shutdown of the Strait of Hormuz.

Meanwhile, Qatar's energy minister warned that Persian Gulf exporters could shut down production within days, potentially driving oil to $150 a barrel.

Prediction markets are also pricing in further upside.

On Polymarket, traders see about a 25% chance that oil tops $150 a barrel, a 90% probability it moves above $100, and a roughly 7% chance it declines past $200.

Economists at Goldman Sachs say a sustained 10% rise in oil prices typically boosts headline CPI by about 28 basis points.

If oil prices increase by $10 and remain elevated for three months, U.S.

year-over-year headline CPI inflation could likely rise from 2.4% in January to 3% in May, they said.

We'll get the latest consumer inflation numbers on Wednesday when the February CPI is released.

Forecasts call for a 0.3% monthly gain in the headline, with the annual rate nudging up to 2.5%.