An Israeli military warning to evacuate nearly all of southern Beirut triggered scenes of chaos and panic Thursday evening as tens, if not hundreds, of thousands…
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on March 5, 2026 in New York City.
Angela Weiss | Afp | Getty Images
Dow futures inched up Friday morning after U.S. equities extended their sell-off this week amid the war in Iran and spiking oil prices.
Futures tied to the Dow Jones Industrial Average added 119 points, or 0.25%. S&P 500 futures gained 0.19%, and Nasdaq 100 futures advanced 0.27%.
Major stock averages declined on Thursday as worries ensued about the escalating U.S.-Iran conflict. The Dow lost nearly 785 points, or 1.6%, putting the index on track for its second negative week in a row and its worst week since last October. The S&P 500 fell about 0.6%, while the Nasdaq Composite dipped nearly 0.3%.
Eight of the 11 sectors were lower in the regular session, with industrials, materials and consumer staples each losing more than 2%. Caterpillar fell more than 3%, while United Airlines shed 5%.
Oil prices surged as traffic through the Strait of Hormuz remains at a standstill. West Texas Intermediate crude oil futures settled up 8.5% at $81.01, touching the highest level since 2024. Brent crude futures jumped almost 5%. Crude prices are headed for their biggest weekly percentage gain since March 2022.
“Markets remain in risk‑off mode as worries grow about the duration of the conflict and potential disruptions to energy supply,” Angelo Kourkafas, senior global investment strategist at Edward Jones, said. He said that the spike in U.S. oil prices is adding to inflation concerns that could put consumer spending under pressure.
To be sure, Kourkafas added, “structural shifts have reduced U.S. vulnerability to oil shocks. Oil would likely need to remain above $100 for an extended period to meaningfully slow economic growth, in our view. The U.S. has been a net exporter of oil since 2019, and the economy is far less energy‑intensive than it once was.”
Friday brings traders a new market catalyst in the form of February’s nonfarm payrolls, due at 8:30 a.m. ET. Economists polled by Dow Jones are looking for growth of 50,000 jobs, down from the 130,000 payrolls added in January. They also expect the unemployment rate to hold steady at 4.3%.
This week, the S&P 500 is on pace to lose 0.7%, while the 30-stock Dow has fallen 2.1%. The tech-heavy Nasdaq has outperformed, heading for a gain of about 0.4%.
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If you’re just joining us, here is a quick recap of the day so far:
The US granted Indian refiners a 30-day waiver to buy Russian oil after the US-Israel war on Iran sparked fears of a supply crunch, lifting global prices. Barely a…
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