Daily Market Summary (Sept. 10): Stocks Slide as Oil Hits $102.94, Inflation Risks Reassert With CPI On Deck -( $AAPL $AMWL $DOCS $ORCL $SOC $VIX Rise! )

U.S. stocks closed broadly lower Thursday as crude oil surged more than 7%, renewing concerns that higher energy costs could keep inflation sticky and restrict the Federal Reserve’s ability to ease policy. The S&P 500, Dow Jones Industrial Average, Nasdaq Composite and Russell 2000 all finished in the red, while the Cboe Volatility Index climbed nearly 10% as investors raised their risk outlook.

Market Performance

Index / Asset	Closing Level	Daily Change	Market Read-Through
S&P 500	7,591.70	-44.66 (-0.58%)	Broad equity weakness as energy-driven inflation concerns weighed on risk appetite
Dow Jones Industrial Average	52,064.10	-316.56 (-0.60%)	Blue chips declined as investors reassessed the rate and growth outlook
Nasdaq Composite	26,081.72	-171.62 (-0.65%)	Technology and growth shares came under pressure as yields remained elevated
Russell 2000	2,890.95	-30.29 (-1.04%)	Small caps underperformed, reflecting sensitivity to financing conditions and domestic growth
Cboe Volatility Index	18.01	+1.55 (+9.44%)	Demand for downside protection and market uncertainty increased sharply
Gold	$4,364.20	-$96.50 (-2.16%)	The traditional haven fell despite broader risk aversion
Bitcoin (BTC-USD)	$77,251.01	-$1,053.43 (-1.35%)	Digital assets weakened alongside risk-sensitive equities
Crude Oil, October Contract	$102.94	+$6.89 (+7.17%)	The day’s dominant macro move, intensifying concerns about inflation and consumer spending

The Russell 2000’s 1.04% decline marked the steepest retreat among the major U.S. equity benchmarks. That relative weakness is important: smaller companies tend to be more exposed to domestic demand, higher refinancing costs and tighter lending conditions. The Nasdaq Composite’s 0.65% drop showed that even the market’s AI and mega-cap technology leadership was unable to fully offset the macro pressure.

Oil Becomes the Macro Catalyst

The market’s central concern was not merely that oil rose, it was the size and speed of the move. The October crude-oil contract settled at $102.94 per barrel, up $6.89 or 7.17% on the day. A move of that magnitude changes the economic discussion in several ways:

• Higher crude prices can flow into gasoline, diesel, freight, airline fuel, industrial inputs and consumer purchasing costs.
• An extended period of oil above $100 per barrel could lift headline inflation readings even if certain core inflation categories moderate.
• Rising energy costs can pressure household discretionary spending and corporate profit margins, particularly in transportation, consumer, industrial and small-cap businesses.
• The Federal Reserve must weigh the risk that an oil shock affects inflation expectations against the possibility that higher fuel costs slow real economic activity.

Thursday’s equity decline reflected that tradeoff. Investors are increasingly confronted with a scenario in which growth slows while energy inflation remains elevated, a combination that can challenge both stock valuations and monetary-policy expectations.

Inflation Data: Better Core Signal, Tougher Backdrop

August producer-price data was broadly in line with expectations. The Producer Price Index rose 0.4% in August from the prior month, while core PPI, which excludes food and energy, rose a lower than expected .2%, below the .3% consensus estimate. Year over year, headline PPI rose 5.4% and core PPI increased 4.6%.On its own, the modest core-PPI increase might have supported hopes that underlying inflation is cooling. However, the timing of the crude-oil rally made the report less reassuring for markets. Energy is excluded from the core measure, but it remains highly relevant for headline inflation, consumer sentiment and inflation expectations. That distinction is likely to shape the reaction to Friday’s Consumer Price Index report. Markets will be watching whether the data show continued disinflation in core services, shelter and goods categories—or whether the energy shock is beginning to broaden into the economy.

Corporate and Technology Focus

Technology shares closed lower as higher yields and energy-driven inflation anxiety reduced investors’ willingness to pay premium valuations for growth assets. Semiconductor and AI-related names were particularly sensitive during the session, with Intel (INTC) and Micron Technology (MU) among the notable decliners cited during intraday market coverage. Apple (AAPL, $326.57, +3.56%), however, drew attention using +3.67% at the end of today’s trading after unveiling new hardware, including its first foldable smartphone, the iPhone Duo, along with the iPhone 18 Pro, AirPods 5 and Apple Watch Series 12. The announcements helped keep attention on product cycles and consumer-device demand even as broader market sentiment weakened. After the closing bell, Oracle (ORCL) supplied a counterpoint to the risk-off session. Oracle shares rose about 7% in extended trading after its stronger-than-expected quarterly results highlighted continued demand for cloud infrastructure and artificial-intelligence computing capacity. Oracle (ORCL) reported fiscal first-quarter cloud revenue of $11.6 billion, up 62% year over year. Its cloud-infrastructure revenue more than doubled to $7.4 billion, while remaining performance obligations reached $664 billion, above Wall Street expectations. The results reinforce a key market tension: enterprise spending on AI infrastructure remains robust, but the broader valuation backdrop is becoming more difficult when oil, Treasury yields and inflation risks all move higher at the same time.

Fiscal Policy and Market Risks

Investors also monitored a proposed $5,000 payment to adult U.S. citizens advanced by President Donald Trump, a plan many reported could cost more than $1 trillion under a broad eligibility framework. The proposal has attracted bipartisan skepticism over its financing, timing and potential inflation implications. That discussion matters to markets because fiscal expansion can affect:

• Treasury borrowing needs and longer-dated bond yields.
• Consumer demand and near-term economic growth.
• Inflation expectations, particularly if new payments arrive during an energy-driven rise in consumer prices.
• The Federal Reserve’s willingness to pivot toward easier policy.

The immediate market response Thursday was clear: investors favored caution. The VIX rose 9.44% to 18.01, confirming a meaningful increase in expected market volatility, while both gold and Bitcoin (BTC-USD) declined, evidence that the session was not a straightforward flight to traditional or alternative safe havens.

What to Watch Friday

Friday’s CPI report is the next major test for equities, bonds and the Federal Reserve outlook. Investors should focus on the core CPI trend, services inflation, shelter costs and any evidence that rising energy prices are reshaping short-term inflation expectations. The near-term setup remains challenging:

• Oil prices above $100 per barrel are a potential headwind for consumers, corporate margins and inflation expectations.
• A 9.44% jump in the VIX indicates that investors are paying more for protection against market swings.
• Small-cap underperformance signals growing concern over interest-rate sensitivity and domestic-growth resilience.
• Oracle’s (ORCL) earnings strength confirms that AI infrastructure demand remains intact, but one earnings beat may not be enough to overcome a macro-driven market re-pricing.

Thursday’s close delivered a familiar but consequential message for investors: powerful AI and cloud-computing demand can support select technology leaders, yet the overall market is increasingly being dictated by oil, inflation and the direction of interest rates.

VP Watchlist Updates

Amwell® (NYSE: AMWL)

Amwell® (NYSE: AMWL), a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, closed at $12.79, +3.98%.

AMWL announced (Sept 8) announced the Department of Veterans Affairs (VA) has declared its intent for the Company to deploy its virtual health platform within the VA enterprise and help power the modernization of the VA’s digital health infrastructure. The VA anticipates the Amwell platform will support a broad range of clinical services, enhance care coordination, and improve access for our Veterans across the VA enterprise. The Letter of Intent follows a comprehensive evaluation process by the VA, in which it determined that Amwell’s virtual health platform aligns with the Department’s strategic objectives to expand access to high-quality, secure, and reliable virtual care services for Veterans nationwide through the VA’s current electronic health record modernization efforts. Specifically, the capabilities Amwell demonstrated in scalable video consultations, interoperability, cybersecurity compliance, and support for integrated care delivery were significant factors in this determination.

Amwell® has received Frost & Sullivan’s 2026 United States Technology Innovation Leadership Recognition in the Technology-Enabled Care Platforms Industry. The recognition validates Amwell’s ability to address healthcare fragmentation through a unified platform that orchestrates consumer experiences, clinician workflows, care programs, and partner solutions.

The Company also reiterated recently its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Serina Theraeuptics (NYSE : SER)

Serina Theraeuptics (NYSE : SER, $2.50) is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

SER announced (Sept. 9) that the independent Safety Monitoring Committee (SMC) has completed its blinded review of Cohort 1 of the ongoing Phase 1b registrational study of SER-252 in patients with advanced Parkinson’s disease and recommended that the study advance to Cohort 2. Cohort 1 evaluated the lowest dose level in the single-ascending-dose portion of the study. In addition to supporting continued dose escalation, blinded Cohort 1 observations showed a pharmacokinetic profile consistent with the sustained apomorphine exposure SER-252 is designed to provide and included sustained periods of improvement in motor function in individual patients on exploratory clinical measures.

Hudson Pacific Properties (NYSE: HPP)

Hudson Pacific Properties (NYSE: HPP, $11.88) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. HPP turned in a quarter ( Aug. 5) that suggests the office malaise is not over, but it may finally be meeting resistance. Revenue came in above Wall Street’s expectations, occupancy moved higher for a fourth straight quarter, and management raised full-year guidance, a combination that does not make for a triumphant victory lap, but it does make for a more credible turnaround narrative. Learn more.

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX, $8.02), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (Aug. 13) positive results from a new analysis of the RESOLVE study examining the effect of EP-104GI on symptom severity, including for the first time an analysis of the effect of EP-104GI on odynophagia (pain when swallowing). This is important because odynophagia scoring is a component of Dysphagia Symptom Questionnaire (DSQ), a commonly used patient reported outcome used in pivotal clinical trials in EoE patients.

Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. (NASDAQ: MODD, $2.64), a commercial-stage medical device company preparing for the commercial launch of its next-generation Pivot™ tubeless patch pump, announced (September 4) that it has secured a contract with a national U.S. pharmacy benefit manager (PBM) in the United States. Pursuant to the contract, the Company’s Pivot insulin delivery system is now available through the national PBM. The Company believes the engagement with this national PBM represents a significant step forward in broadening patient access to the Company’s Pivot tubeless patch pump and will further validate the Pivot pump as an accessible therapeutic option for people living with diabetes.

MODD announced (September 3) that the U.S. Food & Drug Administration (FDA) has cleared a set of software enhancements to its Pivot insulin delivery system, further expanding the system’s functionality and providing users with greater flexibility and customization options in bolus dosing, an enhanced user-interface (UI), and other software upgrades.

MODD CEO, Jeb Besser, co-hosted a Tribe Public’s CEO Presentation and Q&A Webinar Event titled “The Road To Revenue: Modular Medical’s Strategy For Launching Pivot,” that was held Friday, September 4, 2026 (8:30am PT / 11:30 am ET). You may watch the event video below now if you missed it below now.

MODD announced (Aug. 3) plans to initiate the first phase of commercialization of its Pivot tubeless patch pump across five strategically selected U.S. markets beginning in October 2026. The initial rollout will include Atlanta, Cincinnati/Lexington, Dallas, Houston, and Philadelphia, representing a foundational step in the Company’s capital efficient commercialization strategy with its mission to expand access to simplified insulin delivery solutions for all people living with diabetes.

MODD recently (July 22) announced the formation of its Pivot Innovation Council, a cross-functional group of leading clinicians and healthcare experts established to help guide the company’s clinical and commercial strategy. Diabetes care expert Robert Gabbay, MD, PhD, FACP was appointed as chair of the Pivot Innovation Council. The council will provide insights on target patient populations, support optimization of clinical workflows, inform evidence-generation initiatives, and help refine the Pivot product roadmap and go-to-market approach, as the Company continues to scale its differentiated offering.

Modular released findings (July 15) from an independent market research study demonstrating positive receptivity to its FDA-cleared Pivot™ tubeless patch pump due to its differentiated design, streamlined user experience, and potential for reimbursement through the pharmacy channel.

Similarweb Ltd. (NYSE: SMWB)

Similarweb explores the many ways AI, apps, and other transformational forces are changing online shopping in its State of Ecommerce 2026 report, published on Sept 10. They reported that despite increasing more than 200% over the past year, direct referrals from dedicated AI platforms don’t produce a large volume of traffic to ecommerce marketplaces and online stores. In other words, compared with search, AI conversations don’t result in as much immediate click-through traffic. However, AI buying recommendations exert an outsize influence on purchases – in some cases, giving the recommended brand a 2-to-1 advantage over its competitors. Consumers are also making ChatGPT, Gemini, and other conversational AI tools a routine part of the buying process. However, that doesn’t mean they are abandoning search, 89% of the time, consumers who use AI in their shopping research also use search. “Consumers are not switching tools, they are stacking them,” said Daniel Reid, Principal Insight Analyst, Consumer Goods & Retail at Similarweb and the lead author of the report. “People are using AI to explore and narrow options while still turning to Search to move toward a decision. The most complex journeys, the ones that use both, convert the best. Retailers and brands who figure out how to master these new paths to product discovery stand to benefit.”

Similarweb Ltd. (NYSE: SMWB) and NIQ (NYSE: NIQ) have recently announced their planned Agentic Commerce Measurement solution aims to connect AI-based product discovery with consumer intent, traffic, conversion and verified sales outcomes. The first version is expected in the fourth quarter of 2026, initially across selected categories and markets. For many, the strategic appeal is simple: as AI becomes an increasingly consequential front door to commerce, the value may accrue not only to the companies building AI assistants, but also to the data-and-measurement providers that tell enterprises whether all that artificial intelligence is generating actual revenue, or merely very articulate window-shopping.

SMWB also recently delivered the sort of second-quarter report investors tend to enjoy: revenue and profitability exceeded guidance, full-year expectations moved higher, and AI demand translated into contracts rather than merely conference-call poetry. SMWB closed at $8.10, +.75% Learn More.

LG Display Co., Ltd. (LPL)

LG Display Co., Ltd. (NYSE: LPL, $3.15) has spent the last few years doing something many hardware companies talk about but few execute well: turning a technology pivot into a full‑blown business transformation that everyday investors can actually follow. Instead of chasing commoditized LCD TV panels in a race to the bottom, LPL is leaning into Gaming OLED, CES‑worthy innovation, and premium automotive displays – and the press trail tells a surprisingly investor‑friendly story.

Yatsen Group (NYSE: YSG)

Yatsen Group (NYSE: YSG, $2.60), a leading China-based beauty group, delivered the sort of quarter that can make a turnaround investor sit up straighter: reported revenue grew, its strategically important skincare operation accelerated sharply, and the company is increasingly built around clinical and premium brands rather than a pure color-cosmetics play. The results are not yet a victory lap, losses widened and third-quarter guidance is cautious, but YSG’s transformation is beginning to look less like a cosmetic touch-up and more like a genuine renovation.

YSG announced (July 8) a landmark collaboration to bring its flagship brand, Perfect Diary, to Sephora in China. This partnership integrates Yatsen’s rigorous scientific infrastructure with the world’s leading prestige beauty retailer, marking a significant milestone in Yatsen’s continuing evolution into a global beauty technology powerhouse.

Doximity, Inc. (NYSE:DOCS)

Doximity (NYSE: DOCS, $24.71, +2.15%) is the leading digital platform for U.S. medical professionals. The company’s network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits.

Doximity, Inc. (NYSE: DOCS) announced (Aug. 6) results of its fiscal 2027 first quarter ended June 30, 2026. Jeff Tangney, co-founder and CEO of Doximity, “We’re proud that our clinical AI assistant, Doximity Ask, was the top-performing U.S.-based model in the NOHARM benchmark while we delivered another quarter of record engagement. In Q1 we had accelerated revenue growth along with workflow active prescriber growth of more than 30% year-over-year and AI Search query growth of over 25% quarter-over-quarter.”

Fiscal 2027 First Quarter Financial Highlights

All comparisons, unless otherwise noted, are to the three months ended June 30, 2025.

• Revenue: Revenue of $156.6 million, versus $145.9 million, an increase of 7% year-over-year.
• Net income and non-GAAP net income: Net income of $24.3 million, versus $53.3 million, representing a margin of 15.5%, versus 36.5%. Non-GAAP net income of $55.0 million, versus $71.9 million, representing a margin of 35.1%, versus 49.2%.
• Adjusted EBITDA: Adjusted EBITDA of $74.8 million, versus $79.8 million, a decrease of 6% year-over-year, representing adjusted EBITDA margins of 47.7%, versus 54.7%.
• Diluted net income per share and non-GAAP diluted net income per share: Diluted net income per share was $0.13, versus $0.27, while non-GAAP diluted net income per share was $0.29, versus $0.36.
• Operating cash flow and free cash flow: Operating cash flow of $42.0 million, versus $62.1 million, a decrease of 32% year-over-year, and free cash flow of $39.6 million, versus $60.1 million, a decrease of 34% year-over-year.

Financial Outlook

Doximity is providing guidance for its fiscal second quarter ending September 30, 2026 as follows:

• Revenue between $170 million and $171 million.
• Adjusted EBITDA between $80.5 million and $81.5 million.

Doximity is updating guidance for its fiscal year ending March 31, 2027 as follows:

• Revenue between $671 million and $681 million.
• Adjusted EBITDA between $309 million and $329 million.

Sable Offshore Corp. (SOC)

Sable Offshore Corp. (NYSE: SOC, $4.92, +0%) has moved from the awkward “pre-revenue restoration project” phase into something much more recognizable to Wall Street: a company selling meaningful volumes of oil, generating operating cash flow, and building momentum into a potentially larger 2027 earnings base. The second-quarter report on Monday was not a polished victory lap—midstream bottlenecks and one-time costs made sure of that—but it offered something potentially more valuable: proof that the Santa Ynez Unit restart is translating into barrels, revenue, and operational traction. Learn more.

T1 Energy Inc. (NYSE: TE)

T1 Energy Inc. (NYSE: TE, $4.58) offers a different type of growth story: one rooted in domestic production, trade-policy tailwinds and execution on solar manufacturing capacity. T1 announced (Aug. 27) that local officials in Mo i Rana, Norway, have rezoned a portion of the company’s Giga Arctic campus, allowing for the development of a data center. T1 is pursuing multiple pathways to monetize this brownfield facility as part of a value optimization initiative.

T1 recently reported second-quarter net sales of $250.1 million, produced 935 megawatts of solar modules at its G1_Dallas facility and generated adjusted EBITDA of $10.7 million. The company also monetized $39.1 million of 2025 Section 45X tax credits and ended the quarter with $156.4 million in cash, cash equivalents and restricted cash, including $79.1 million unrestricted. The headline loss should not be ignored: T1 reported a $36.9 million net loss from continuing operations, while its adjusted EBITDA benefited from $24.4 million in tariff refunds recognized in cost of sales. Yet the more interesting investor question is whether the company is creating a viable U.S. solar-manufacturing platform at a time when supply-chain security and domestic energy capacity carry unusually high strategic value. The company expects its first solar cells from a planned 2.1-gigawatt manufacturing facility in the first quarter of 2027. With 3 gigawatts of firm contracts, a 641-megawatt offtake agreement with Clearway and 2026 output expected toward the upper end of its 3.1-to-4.2-gigawatt range, T1’s story is increasingly about turning production capacity into contracted revenue. For investors, TE is less a conventional earnings multiple story than an execution-and-optionality story. If domestic solar demand remains durable and manufacturing milestones stay on schedule, the market may ultimately value the company less like a troubled commodity producer and more like a strategically positioned industrial platform.

Nvidia (NVDA, $218.36, -2.37%)

NVDA announced plans (Sept. 3) to acquire open-AI platform Hugging Face for approximately $13 billion, with closing expected in 2027. The move reinforces NVIDIA’s effort to deepen its position across AI infrastructure, development tools, and the open-source AI ecosystem. Learn More.

Nvidia once again delivered (Wed., August 26) results that made Wall Street’s estimates look rather conservative. After the bell on Wednesday, NVIDIA, for its fiscal second quarter, the AI-chip leader reported adjusted earnings of $2.22 per share, ahead of the $2.10 consensus forecast, while revenue reached $96.22 billion, comfortably above expectations of $92.17 billion. The performance underscores Nvidia’s central role in the global AI buildout, where demand for its computing hardware continues to turn ambitious data-center plans into exceptionally large purchase orders. In short: the company remains one of the market’s preferred ways to bet on artificial intelligence, and, judging by the numbers, the machines are still very much hungry.

Exodus Movement, Inc. (EXOD, $5.97)

Exodus Movement, Inc. (NYSE American: EXOD) offers investors an increasingly unusual combination: a publicly traded software company positioned at the intersection of crypto adoption, self-custody, consumer finance and digital-asset infrastructure. In a sector accustomed to grand promises and occasionally vanishing balance sheets, Exodus sells a more practical proposition—help users securely manage, swap, stake and spend digital assets without handing over the keys. That model is gaining relevance as cryptocurrency moves beyond the speculative trading screen and toward everyday financial utility. Exodus is not trying to become a bank in a hoodie; it is building the user-friendly front door to a self-custodial digital-asset economy.

The Sources

1. Yahoo Finance: Stock Market Today Thursday, September 10
2. Yahoo Finance: PPI Data Shows Wholesale Prices Advancing in Line With Expectations
3. CNBC: Trump’s $1 Trillion-Plus “Dividend” Plan Meets Immediate Bipartisan Pushback
4. CNBC: Oracle (ORCL) Earnings Report Cloud Infrastructure Revenue More Than Doubles
5. CNBC: Stock Market Today Live Updates U.S. Oil Prices Top $100
6. Realtime Finance Data: Nasdaq Composite, Russell 2000 and Brent Crude Historical Closing Data

This article is for informational purposes only and should not be construed as investment advice, a recommendation, or an offer to buy or sell any security. Market data are subject to revision, and investors should conduct independent due diligence before making investment decisions.