Dow, S&P 500, Nasdaq futures fall as oil surges amid escalating Middle East conflict
March 12, 2026
Breaking News
Image source: Pexels
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.
Dow Jones Industrial Average futures were down 0.7%, following a second straight mostly down day on Wall Street.
Contracts on the S&P 500 and Nasdaq 100 both fell 0.6%, as stocks pared earlier morning losses of about 1%.
Energy markets continue to be roiled by the fallout from the escalating conflict between the US, Israel, and Iran, after President Trump said Wednesday that the US is seeking to finish the job in the immediate future.
Tanker traffic across the region has been affected following attacks on two tankers in the Iraq Ports loading area, leading to the closure of Iraqi ports. Yahoo Finance reports.
EdgeUp
🚀 Nebius stock soars after Nvidia investment
Nebius Group is the latest recipient of an Nvidia investment, and shareholders of the neocloud company seemed pleased about the vote of confidence.
Nebius shares jumped 16% on Wednesday after the company announced a partnership with Nvidia through which the two will work together on the deployment of artificial intelligence infrastructure.
Additionally, Nvidia plans to invest $2 billion in Nebius. MarketWatch reports.
🚢 Oil tankers attacked off Iraq as Middle East crisis worsens
Two oil tankers were hit in Iraqi waters, the latest in a string of attacks on ships in the Persian Gulf that are raising risks to global energy supply from the deepening Middle East war.
The strikes on the vessels off the coast of Iraq prompted the nation’s oil terminals to suspend operations.
The latest developments point to an increase in retaliatory action from Iran, adding to pessimism that the conflict will persist for longer. Yahoo Finance reports.
💰 Global bonds erase 2026 gains as war fuels inflation angst
Global bonds have surrendered their year to date gains as elevated oil prices stoke fears that inflation will reignite, triggering a selloff across fixed income markets.
The Bloomberg Global Aggregate Index, which tracks total returns from investment grade government and corporate bonds, is now flat for 2026, with the selloff extending Thursday after oil climbed back above $100 a barrel.
The index had been up as much as 2.1% this year through Feb. 27, just before President Donald Trump launched an attack on Iran, underscoring how quickly the geopolitical shock has reversed sentiment. Yahoo Finance reports.
☁️ Oracle stock price surges nearly 10% as AI boom pushes 2027 revenue goal to $90 billion
Oracle jumped almost 10% Wednesday, lifted by a higher fiscal 2027 revenue forecast and solid cloud results yet again.
Shares touched $171.60 before settling up 9.7% at $163.83.
The surge is notable, given persistent doubts about Oracle’s funding needs for its AI expansion.
Back in February, Oracle flagged the possibility of raising as much as $50 billion through debt and equity.
Fast forward to Tuesday. The company reported it has already secured $30 billion, with capital spending guidance for fiscal 2026 still locked at $50 billion. TechStock² reports.
🐾 Petco stock rallies after Q4 earnings
Petco Health and Wellness shares climbed higher in Wednesday’s extended trading after the company released a mixed fourth quarter earnings report, squeaking out a revenue beat.
Petco Health and Wellness reported quarterly losses of 1 cent per share, which missed the Street estimate for earnings of 2 cents.
Quarterly revenue clocked in at $1.515 billion, which beat the analyst consensus of $1.513 billion by a hair. Benzinga reports.
💛 Bumble stock soars as investors swipe right on Q4
Bumble shares climbed in Wednesday’s extended trading after the company released its fourth quarter earnings report and an upbeat first quarter revenue outlook.
Bumble reported quarterly losses of $4.06 per share, which missed the analyst consensus for earnings of 24 cents.
Quarterly revenue came in at $224.17 million, which beat the Street consensus estimate of $221.3 million. Benzinga reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Stock Analysis reports.
1) LWLG: Lightwave Logic, Inc.
Total gain: +26.69%
2) TURB: Turbo Energy, S.A.
Total gain: +23.00%
3) BMBL: Bumble Inc.
Total gain: +18.84%
4) BBW: Build-A-Bear Workshop, Inc.
Total gain: +14.97%
5) IXHL: Incannex Healthcare Inc.
Total gain: +14.41%
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on March 11.
Stock Analysis reports.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1) ACXP: Acurx Pharmaceuticals, Inc.
Total gain: +107.93%
The company announced that it will conduct a new clinical trial in patients with recurrent C. difficile Infection (rCDI) while its program in the broader CDI patient population is ready to advance to Phase 3 international clinical trials, subject to receiving appropriate funding. This new clinical trial in rCDI begins with an open-label pilot trial to gain experience with IBZ in patients with multiply-recurrent CDI with at least 3 episodes of CDI within the past 12 months. PR Newswire reports.
2) SXTP: 60 Degrees Pharmaceuticals, Inc.
Total gain: +71.28%
The company announced that three of three enrolled patients have been cured of babesiosis after completing the tafenoquine regimen in the Company’s trial of relapsing babesiosis in immunosuppressed patients. Globe Newswire reports.
3) ROMA: Roma Green Finance Limited
Total gain: +39.19%
The company announced the pricing of a public offering of 2,449,943 of its ordinary shares at a public offering price of $4.00 per share for aggregate gross proceeds of approximately $9,799,772 prior to deducting underwriting discounts, commissions and other related expenses. Additionally, in connection with the initial public offering, a selling shareholder is selling 625,517 ordinary shares at $4.00 per share, for total gross proceeds of $2,502,068, before deducting underwriting discounts, commissions and other related expenses. Globe Newswire reports.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
FUTU: Futu Holdings
Q4 2025
Before Market Open
Estimate: N/A
Actual: 3.130
PHAR: Pharming
Q4 2025
Before Market Open
Estimate: 0.070
Actual: 0.070
ZUMZ: Zumiez
Q4 2025
After Market Close
Estimate: 1.070
Actual: N/A
Today’s Economic Dates
Time (ET) / Report / Period
8:30 AM - Initial jobless claims - March 7
8:30 AM - U.S. trade deficit - Jan.
8:30 AM - Housing starts - Feb.
Parting Thoughts
“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”
– Sir John Templeton
Sourced in: Templeton Quotes – Forbes.
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