Stocks Close Mostly Down as Oil Prices Push Higher

3.912 - 10.663 Catherine Sullivan

Here's your Closing Bell Brief for Wednesday, March 11th. I'm Catherine Sullivan for The Wall Street Journal. U.S.

10.683 - 33.96 Catherine Sullivan

stocks finished mostly lower today as persistent inflation and rising energy prices weighed on sentiment. The Dow dropped 0.6% while the S&P 500 was down about a tenth. The Nasdaq was up about a tenth. Financial shares led the decline following a steady inflation report for February. Treasury yields climbed as investors worried that price pressures might delay interest rate cuts.

34.521 - 54.711 Catherine Sullivan

Global oil prices rose despite IEA countries' decision to release a record 400 million barrels in an attempt to prevent supply disruptions and tame crude prices. Tensions in the Middle East fueled concerns over potential disruptions to energy flows. Among individual companies, Oracle shares rallied over 9% during the session.

54.771 - 77.406 Catherine Sullivan

The company reported strong demand for cloud computing used to train artificial intelligence. Rheinmetall shares dropped 8% after the German arms maker missed earnings expectations. Campbell stock fell 7% after the food company lowered its financial outlook. Management noted that weak demand for snacks dragged down overall sales.