Stocks Hit New Highs on Cooling Inflation as Dell Surges and Oil Tops $80
• Stocks rallied on Friday, building on February's gains and optimism from cooling inflation data. The S&P 500 and Dow hit new records.
• Shares in Dell soared 25% after strong earnings, fueled by AI server demand. New York Community Bancorp plunged 27% on a CEO exit and loan weaknesses.
• Oil prices jumped over $80 a barrel, highest since November, on signs of tight supply. OPEC+ may extend output cuts.
• Apple canceled its car project to focus AI resources on new groundbreaking generative AI tools, said CEO Tim Cook.
• Elon Musk sued OpenAI and CEO Sam Altman for abandoning its mission and profit focus, amid a board overhaul.