Dow Jones futures today: on edge ahead of US CPI data as IS-Iran war continues

• Economists expect February CPI to show headline inflation at 2.4% and core inflation at 2.5%, both remaining above the Fed's 2% target due to surging energy costs from the US-Iran war
• Crude oil prices jumped to $92 (Brent) and $88 (WTI) despite IEA proposals to release emergency reserves, while gasoline prices hit $3.50, the highest since 2024, rising for 11 consecutive days
• Oracle reported strong AI-driven results with revenue of $17.18 billion (up 22% YoY), providing a positive signal for the tech sector ahead of key earnings from Dollar General, Ulta Beauty, and Lennar

Summary: Dow Jones Futures Under Pressure from Inflation Data and US-Iran Conflict

Market Performance:

Dow Jones futures fell to $47,600, down 6.12% from yearly highs on March 11, 2026. S&P 500, Nasdaq 100, and Russell 2000 futures declined by 10, 42, and 15 points respectively. The broader market retreated as investors await critical inflation data.

Key Economic Data:

The US Consumer Price Index (CPI) report is expected to show headline inflation at 2.4% and core inflation at 2.5% for February, both remaining above the Federal Reserve's 2% target. US bond yields rose accordingly: 10-year at 4.17%, 30-year at 4.8%, and 2-year at 3.52%.

Geopolitical Impact:

The ongoing US-Iran war has driven energy prices sharply higher. Brent crude reached $92 and West Texas Intermediate hit $88, with some references to crude at $90. Natural gas prices surged double digits. Average US gasoline prices climbed to $3.50, the highest since 2024, marking 11 consecutive days of increases. The International Energy Agency proposed emergency oil reserve releases to counter price spikes.

Corporate Highlight:

Oracle reported strong Q4 results with revenue of $17.18 billion (versus $16.9 billion expected), up 22% year-over-year. Net income reached $3.7 billion, driven primarily by AI infrastructure business growth. While not a Dow component, Oracle's performance serves as an AI sector bellwether.

Outlook:

Upcoming catalysts include earnings from Dollar General, Ulta Beauty, and Lennar on Thursday, plus Friday's PCE inflation report—the Fed's preferred inflation gauge. Analysts expect inflation pressures to persist amid elevated energy costs and geopolitical uncertainty.