Updated 2 min read
Stocks steadied on Friday after a headlong sell-off as investors assessed the latest moves in a still-hot Iran conflict ahead of an inflation reading key to Federal Reserve policy thinking.
Contracts on the Dow Jones Industrial Average (YM=F) and the S&P 500 (ES=F) both slipped just below the flatline. Nasdaq 100 futures (NQ=F) were down 0.2% in bumpy premarket action.
The respite comes as investors weigh how long and how wide the Iran war will rage in the Middle East, as the conflict heads for its second week. Israel launched fresh attacks on Tehran on Friday, while Tehran is seen as behind missile strikes on Dubai and Turkey. Meanwhile, the US said four crew were killed when a military refueling plane crashed in Iran.
The escalating conflict has driven a sharp rise in oil prices that has destabilized markets, sending the three major US stock benchmarks to their lowest closing levels of 2026 — and at their lowest points since November — on Thursday. The Dow Jones Industrial Average (^DJI) dropped over 700 points, closing below 47,000 for the first time this year.
In the latest effort to cool the oil rally, the US gave a second waiver allowing purchases of sanctioned Russian oil. But with Iran’s new leader vowing to keep the key Strait of Hormuz waterway closed, analysts said the move will ease but won’t fix what’s seen as the largest oil supply disruption in history.
The rally in oil prices slackened on Friday, with West Texas Intermediate crude futures (CL=F) little changed below $95 a barrel. Meanwhile, Brent crude futures (BZ=F) rose to hold above $100 after closing above that key level for the first time since August 2022.
The spike in oil, combined with renewed inflation worries, has shifted expectations around Fed policy ahead of its meeting next week. Traders have scaled back bets that the central bank will cut interest rates this year.
That has put the spotlight on the January reading of the Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation measure, scheduled for release at 8:30 a.m. ET. Also due is the first revision of Q4 US GDP growth, after the measure came in sharply under expectations in an initial reading.
After a dismal February jobs report, investors will also be paying close attention to Friday’s Job Openings and Labor Turnover survey (JOLTs). A first look at consumer confidence in March from the University of Michigan will also offer a broad read on consumer sentiment.
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Premarket trending tickers: Dick’s Sporting Goods, Strategy, Coinbase, and SentinelOne
Dick’s Sporting Goods (DKS) stock fell 6% during premarket hours on Friday following the release of its upbeat fourth quarter earnings on Thursday. However, the retailer’s guidance for the current fiscal year was mixed, with the company’s adjusted per-share earnings of $13.50 to 14.50 falling short of analysts’ estimates of $14.82.
Strategy (MSTR) and Coinbase (COIN) stock rose around 3% before the bell on Friday, following bitcoin’s (BTC-USD) 2% rise today.
SentinelOne (S) stock fell 5% during premarket hours on Friday after the cybersecurity firm reported upbeat fourth quarter earnings for revenue, which met analysts targets, but the company’s April quarter guidance was only in line with estimates.
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Ulta stock falls after beauty retailer issues cautious guidance
Ulta (ULTA) stock declined 8% in premarket trading on Friday as investors were disappointed by the beauty retailer’s tepid 2026 guidance and fourth quarter earnings miss.
For the full year, Ulta forecast earnings per share of $28.05 to $28.55, which fell below Wall Street’s expectations for earnings of $28.57, according to consensus estimates from S&P Global Market Intelligence.
Investors were focused on Ulta’s guidance going into the earnings report after a year of investment in 2025. Ulta’s same-store sales outlook of 2.5% to 3.5% had a midpoint below the expected 3.5% comparable sales guidance, raising questions about pressure on operating margins.
In the fourth quarter, diluted earnings per share of $8.01 also missed Wall Street’s $8.03 estimate. Revenue of $3.89 billion beat estimates of $3.82 billion. Same-store sales were up 5.8% year over year.
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ByteDance signs $2.5b deal for Nvidia chips outside of China
Bloomberg reports:
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Adobe stock drops after CEO announces departure after 18 years at helm
Yahoo Finance’s Dan Howley reports:
