"Inflation Data Sparks Stock Market Volatility; Warren Buffett Increases Oil Stock Holdings"

The stock market fell after inflation and job-market reports suggested a delay in interest-rate cuts, with the S&P 500 and Nasdaq composite down 0.35% and 0.5%, respectively. Microsoft attempted to break out to new highs, while Warren Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum. In the energy sector, Chesapeake Energy rose after confirming a merger with Southwestern Energy, while Hertz announced plans to sell 20,000 electric vehicles from its U.S. fleet due to weak demand and higher repair costs. The consumer price index climbed 0.3% in December, exceeding economists' forecasts, leading to caution from the Fed regarding rate cuts.