US stock index futures were steady on Friday after Wall Street came under renewed pressure in the previous session, as investors weighed uncertainty over the war involving Iran and a sharp rally in oil prices.
On Thursday, the Dow Jones Industrial Average fell 1.61%, while the S&P 500 and the Nasdaq Composite declined 0.56% and 0.26%, respectively. Eight of the 11 S&P 500 sectors finished lower, led by consumer staples, materials, and industrials.
Shares of Caterpillar dropped 3.6%, and GE Aerospace slid 3.4%, as investors priced in the risk of supply chain disruptions and potential margin compression.
Crude oil prices surged more than 8% on Thursday and were on track for their biggest weekly gain since 2022, before pulling back in early Friday trading after the Trump administration signaled it was considering several options to counter the recent price spike.
Investors are now focused on the February US jobs report, due later today, for further insight into the health of the labor market.
