U.S. stocks ended the day down on Friday. Oil prices shot up fast because of news from the Middle East. The S&P 500 fell 1.5% to close at 6,506.48. The Dow Jones Industrial Average dropped 1% to 45,577.47. The Nasdaq Composite lost 2% to 21,647.61. The Russell 2000 fell 2.3% to 2,438.45. Markets felt the pressure from higher energy costs and events far away.
Equity Markets
Energy stocks rose because oil prices went higher. Tech and many other groups fell and pulled the whole market lower. The S&P 500 stayed above important support levels. This shows the uptrend from before may still be holding even after the drop. Small-company stocks lagged behind, which traders watch for signs of wider market weakness.
Fixed Income
Bond yields moved up. The 10-year Treasury yield ended at 4.39%. That means borrowing costs rose a bit as people thought about higher energy prices and what the Fed might do.
Currency Markets
The U.S. dollar got stronger. The dollar index closed at 99.65, up 0.4%. A stronger dollar can affect companies that sell goods overseas.
Commodities
Oil prices surged from supply worries in the Middle East. WTI crude oil settled near $98 per barrel. Brent crude sat near $108. Gold fell to about $4,492 per ounce as safe-haven buying eased.
Macro Backdrop
The big number this week was jobless claims. They fell to 205,000 for the week ended March 14. That beat what experts expected and shows the job market is still strong. The Fed kept its main interest rate at 3.5% to 3.75% after its meeting on March 18. Officials said inflation is still a worry, and world events add uncertainty.
Entering Today's Open
Key reference levels:
S&P 500: 6,506.48
Dow Jones Industrial Average: 45,577.47
Nasdaq Composite: 21,647.61
10-Year Treasury Yield: 4.39%
U.S. Dollar Index: 99.65
WTI Crude: $98
Initial Jobless Claims: 205,000
Markets open today after Friday’s drop. Higher oil prices and strong job numbers set the stage. Traders will watch energy costs, yields, and any fresh world news for clues on where things go next.
