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Posted March 5, 2026 at 10:30 am
US futures fell while Brent and WTI climbed, as investors weighed escalating US-Iran tensions against mixed economic data and big moves in Broadcom and Grocery Outlet.
Stocks pointed to a weaker open Thursday as Middle East tensions pushed oil higher and new US data sent mixed messages on growth and inflation.
US stock futures dipped as the conflict entered a sixth day and traders priced in higher energy risk. Brent rose 2.3% to $83.27 a barrel and WTI climbed 3.0% to $76.86 – a move that can filter into shipping, manufacturing, and, eventually, consumer prices. The data didn’t clear things up: weekly jobless claims stayed low at 213,000, but Q4 unit labor costs rose 2.8% versus 2.0% expected, hinting wage-driven inflation could stick around. Company news still moved fast: Broadcom gained about 5% after stronger adjusted Q1 results, while Grocery Outlet dropped roughly 25% after soft fiscal 2026 guidance.
For markets: Oil can reset the rates narrative.
A 2%–3% pop in crude can quickly shift expectations for inflation and rate cuts, because energy costs seep into everything from airline margins to grocery bills. That’s why futures weakened even with steady jobless claims. If oil stays elevated, sectors sensitive to fuel and transport costs tend to feel it first, while energy producers may get a tailwind.
Zooming out: Earnings still win the day.
Even when macro headlines are loud, guidance often decides the biggest stock moves. Broadcom’s jump versus Grocery Outlet’s plunge shows investors are paying up for clear profit paths and punishing uncertainty. That matters more when labor costs are running hot, since wages can squeeze margins across industries.
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Originally Posted March 5, 2026 – Stocks Slip As Middle East Conflict Lifts Oil Prices
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