US stocks opened lower on Friday, with the major indexes on track for weekly losses, as weaker-than-expected U.S. data added to worries about exiting markets. By 10:30 a.m. ET, the Dow was down 676 points, or 1.41%. The S&P 500 fell 1.26% and the tech-heavy Nasdaq sank 1%. Wall Street’s fear gauge, the VIX, rose 12%. Oil prices continued to rise: US crude rose by 9.2%, to $88.47 per barrel. Brent crude, the world’s benchmark, gained 6.7%, to $91.16 a barrel. US and Brent crude rose 32% and 25%, respectively, this week as the conflict with Iran halted the flow of oil through the Strait of Hormuz and caused disruptions to oil producers in the expanding Middle East markets. “There is little criticism,” Craig Johnson, Piper Sandler market expert, said in an article. President Donald Trump said on Friday in a social media post that “there will be no deal with Iran” unless they make concessions. Saad al-Kaabi, Qatar’s energy minister, told the Financial Times that he predicts that all Gulf energy suppliers will be forced to cover high oil prices. Rising oil and gas prices could lead to inflation. This is troubling Wall Street. Worry on a weaker-than-expected jobs report on Friday. The US economy lost 92,000 jobs in February, according to the latest data from the Bureau of Labor Statistics. The 10-year yield traded at 4.17% on Monday The conflict in the Middle East and the development of tax uncertainty are the issue of the labor market, and there is a complex, surprising mix of risks behind Fedbaugh,” said Elyse, head of Morgan Investment, JP Principal of Ausen. announcement. The US dollar index traded after a weaker-than-expected jobs report, paring its gains. The index is up 1.7% this week and is poised for its best week since the end of 2024 as investors have flocked to the greenback as a safe haven. Long-term high oil prices could cause further inflation, the Fed may feel pressured to stay on the sidelines,” Zentner said.
US stocks opened lower Friday, with indexes on track for weekly losses, as weaker-than-expected data added to concerns in markets.
By 10:30 am ET, the Dow was down 676 points, or 1.41%. The S&P 500 fell 1.26% and the tech-heavy Nasdaq sank 1%. Wall Street’s fear gauge, the VIX, jumped 12%.
Oil prices continued to rise: US crude increased 9.2%, to $88.47 per barrel. Brent crude, the global benchmark, gained 6.7%, to $91.16 a barrel.
US and Brent crude prices rose 32% and 25%, respectively, this week as the conflict with Iran halted the flow of oil through the Strait of Hormuz and caused disruptions to oil producers in the region.
“The stock market continues to struggle with instability in the Middle East, leading to a downward trend,” Craig Johnson, market strategist at Piper Sandler, said in a note.
President Donald Trump on Friday said in a post on social media that “there will be no engagement with Iran” except for passive commitments.
Saad al-Kaabi, Qatar’s energy minister, told the Financial Times that he predicts that all Gulf energy exporters will be forced to shut down production, driving up oil prices. Rising fuel and electricity prices can cause inflation. That’s raising nerves on Wall Street.
Concerns about rising energy prices were mixed with nerves over a weaker-than-expected jobs report on Friday morning. The US economy lost 92,000 jobs in February and the unemployment rate rose to 4.4%, according to the latest data from the Bureau of Labor Statistics.
“The combination of trade volatility and low population growth points to a weaker economy at the same time as energy prices rise,” David Russell, global head of market research for TradeStation, said in an email.
Treasury yields rose on Friday morning despite weak jobs reports as concerns about inflation. The 10-year yield traded at 4.17%, up from 3.96% on Monday.
“Add high oil prices given the tensions in the Middle East and improving tax uncertainty to the labor market issue, and you have a complex, dire mix of risks behind the Fed,” Elyse Ausenbaugh, chief investment strategist at JP Morgan Wealth Management, said in a note.
The U.S. dollar index traded flat after a weaker-than-expected jobs report, paring its gains. The index is up 1.7% this week and is poised for its best week since late 2024 as investors flocked to the greenback as a safe haven.
“Today’s numbers may have put the Fed between a rock and a hard place,” Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, said in a note.
“A sharp slowdown in the labor market may support rate cuts, but because of the risk that long-term high oil prices could lead to further inflation, the Fed may feel pressured to stay on the sidelines,” Zentner said.
#Dow #dips #oil #prices #rise #weak #jobs #data #adds #market #anxiety
