Traders work on the floor of the New York Stock Exchange (NYSE) as the opening bell rings on March 5, 2026 in New York City.
Angela Weiss | AFP | Getty Images
Stock futures fell on Friday as traders awaited new U.S. jobs data, while higher oil prices fueled a weekly decline in stocks.
futures tied to Dow Jones Industrial Average Lost 329 points (0.7%). S&P500 futures and Nasdaq 100 futures They decreased by 0.7% and 1%, respectively.
West Texas Intermediate Futures It surpassed $86 per barrel, the highest price since April 2024. brent crude oil Oil prices also hit levels not seen in nearly two years, topping $89 a barrel, as investors weigh the impact of the war between the United States and Iran on global energy supplies.
Qatar’s energy minister told the Financial Times that energy producers in the Gulf may have to halt production due to force majeure within days, adding that oil prices could reach $150 a barrel.
shares of royal caribbeanAfter falling more than 9% this week due to rising fuel costs, it fell again on Friday, dropping nearly 2% in the previous session. caterpillar The stock continued to fall this week, dropping about 1%. retailer walmart and costco The price was lowered slightly due to concerns that rising gasoline prices would hurt consumers.
The recent rise in oil prices continued to weigh on stocks in Thursday trading. The Dow Jones Industrial Average fell about 785 points, or 1.6%, for the second consecutive week in negative territory and its worst week since October of last year. The S&P 500 fell about 0.6%, and the Nasdaq Composite Index fell nearly 0.3%.
crude oil price
“Markets remain in risk-off mode amid growing concerns about the potential for prolonged conflict and disruption to energy supplies,” said Angelo Kourkafas, senior global investment strategist at Edward Jones. He said rising U.S. oil prices could raise inflation concerns and weigh on consumer spending.
Indeed, Kourkafas added, “Structural shifts have reduced the US’s vulnerability to oil shocks. In our view, oil prices will need to exceed $100 for an extended period of time to significantly slow economic growth. The US has been a net exporter of oil since 2019, and the economy consumes much less energy than before.”
Friday brings another market boost for traders in the form of February nonfarm payrolls, which will be released at 8:30 a.m. ET. Economists polled by Dow Jones forecast a 50,000-job gain, down from January’s 130,000-job gain. It also expects the unemployment rate to remain stable at 4.3%.
This week, the S&P 500 is on pace to decline 0.7%, and the Dow 30 is down 2.1%. The tech-heavy Nasdaq outperformed and is on track to rise about 0.4%.
