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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.
US stock futures retreated on Thursday as oil prices pressed higher amid signs the Iran war is widening across the Middle East and threatening disruption to energy supplies.
US stock futures faltered on Wednesday as investors monitored the latest developments from the Iran war fallout and braced for the latest inflation report to help shape expectations for the economy and Federal Reserve policy.
Oil tumbled after US President Donald Trump said the Iran war will end soon, as he faces mounting pressure over the conflict that’s upended global energy markets and sparked concerns about an inflation crisis.
Oil smashed through $100 a barrel as more major Middle East producers cut output, with a standstill of tanker traffic through the vital Strait of Hormuz choking off supplies to the rest of the world.
Is the labor market stabilizing or sliding backward after last year's onslaught of dismal data? On Friday morning, all eyes will be on February's jobs report for clues.