Stock market today: S&P 500, Nasdaq slip as investors await key inflation data

With Alphabet's significant advancements in quantum computing, this positions them strongly in a potentially revolutionary tech sector. Investors may view this positively, particularly as tech stocks are in demand and innovation narratives remain strong. The release of the inflation report could further bolster investor sentiment depending on the outcome regarding consumer prices.

Oracle’s disappointing results suggest increased competition in the cloud space and might lead to short-term declines as investors reassess future prospects and focus on performance metrics that may not meet expectations. This negative sentiment could linger until clearer growth indicators are established in subsequent quarters.

Kroger's stock rose after the acquisition block, suggesting that investors are relieved about the company's independent growth trajectory. Continuous solid performance amidst industry competition may present future gains as it focuses on operational efficiencies and strategic growth without the merger complications.