Traders prepare for the launch of MDA Space Inc.’s offering on the New York Stock Exchange during morning trading in New York City, March 12, 2026.
Michael M. Santiago | Getty Images News | Getty Images
Stock futures rose on Friday, while oil prices fell as investors awaited further developments in the Iran war.
futures tied to Dow Jones Industrial Average It rose by 188 points (0.4%). S&P500 futures 0.4% increase with Nasdaq 100 futures.
The three major averages are currently tracking losses for the week. The S&P 500 is trending down 1%, while the Dow is trending down 1.7%. The Nasdaq is down 0.3% since the beginning of the week.
The recent rise in oil prices reversed course on Friday. West Texas Intermediate Crude Oil Futures While it fell 3% to about $92 per barrel. brent futures It fell 2% to $98 per barrel. Brent closed above $100 on Thursday for the first time since August 2022.
Stocks have come out of a bear market after oil soared in pre-market trading after Iran’s new supreme leader Mojtaba Khamenei said the Strait of Hormuz, a key route, should remain closed as a “means of putting pressure on the enemy.”
High oil prices and several other key hurdles in the market are causing pain for investors, said Chris Toomey, managing director at Morgan Stanley Private Wealth Management.
“You have the build-up (of artificial intelligence), you have private credit… and you have this energy situation,” he said on CNBC’s “Closing Bell.” “I think our biggest concern is the energy situation.”
Toomey added that if the Strait of Hormuz continues to be out of order for more than a few months, it “becomes a real problem.”
Rising oil prices and rising inflation concerns are also dampening investors’ expectations that the U.S. Federal Reserve will cut interest rates this year.
The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditure Price Index, rose 0.3% in January, in line with expectations. Year-over-year headlines showed a 2.8% increase, slightly below the 2.9% expected by economists surveyed by Dow Jones.
Core PCE, which excludes energy and food prices, was 0.4% month-on-month and 3.1% year-on-year, as expected.
