U.S. stock futures were down early Friday morning due to increasing concerns about rising geopolitical tensions in the Middle East and surging oil prices. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were down 0.53%, 0.32%, and 0.42%, respectively, at 4:55 a.m. EST on March 6.
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Forget margin or options. Here's how the pros trade QQQOil prices were up in early Friday trading as investors weighed the impact of the escalating U.S.-Iran conflict on global energy supply. West Texas Intermediate (WTI) crude was up about 4.02% to around $84.36, while Brent crude was up by 2.04% to $87.12. However, overnight, both WTI and Brent crude moved lower, but prices edged higher again by early morning trading.
In the regular trading session on Thursday, the Dow, the S&P 500, and the Nasdaq fell 1.6%, 0.6%, and 0.3%, respectively. The declines erased part of Wednesday’s strong rebound, when the Dow snapped a three‑day losing streak.
Looking ahead, traders await the release of the Nonfarm Payrolls report tomorrow. The market consensus expects a sharp deceleration to about 58,000 to 65,000 new jobs, down from 130,000 in the previous month.