U.S. Stock Futures Edge Higher After Oil-Driven Selloff as Markets Await PCE Data

Published: March 13, 2026

Economic Impact

U.S. Stock index futures edged higher Thursday night after Wall Street suffered steep losses driven by surging oil prices and heightened geopolitical tensions surrounding the Iran war.

S&P 500 Futures rose 0.2% to 6,690.50 points, Nasdaq 100 Futures gained 0.1% to 24,587.25 points, and Dow Jones Futures advanced 0.2% to 46,817.0 points.

In major after-hours moves, Adobe fell more than 7% after announcing that long-time CEO Shantanu Narayen would step down, overshadowing otherwise strong earnings.

Market Response

Wall Street’s major indexes fell sharply on Thursday as the U.S.-Israel-Iran war showed little sign of easing and renewed fears of inflation were sparked by another surge in oil prices.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all dropped between 1.5% and 1.8% in broad-based sales. Losses accelerated after Brent crude surged back above $100 per barrel as Iran signaled it would continue blocking the Strait of Hormuz.

Markets fear that rising oil prices could translate into faster inflation over the coming months, potentially making the Federal Reserve more reluctant to cut interest rates.

Technical and Fundamental Analysis

• Technical: U.S. equity futures posted only a limited rebound after Thursday’s heavy losses, suggesting that near-term sentiment remains fragile.
• Fundamental: President Donald Trump called for immediate rate cuts, but markets still expect the Federal Reserve to keep rates unchanged at next week’s meeting, with attention now focused on the upcoming PCE report.

Key Takeaway for Investors

Markets are now watching Friday’s PCE Price Index for clues on inflation and monetary policy. However, ongoing energy-driven inflation risks tied to the Iran war mean sentiment is likely to remain sensitive to oil price moves and geopolitical developments.

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