Why Are Stock Market Futures Inching Higher Today, 3/12/26?

U.S. stock futures were modestly higher on Thursday night as investors waited for key U.S. inflation data, the Personal Consumption Expenditures (PCE) report. However, overall sentiment remained cautious as the Iran war continues to weigh on markets despite a slight pullback in oil prices.

Claim 70% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

• Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average DJIA -1.59% ▼ , and the S&P 500 Index (SPX) were up 0.21%, 0.44%, and 0.34%, respectively, at 8:30 p.m. EST on March 12.

Crude prices have eased slightly but remain elevated. At the time of writing, the global oil benchmark Brent (CM:BZ) was modestly lower but still trading above $100 a barrel, while West Texas Intermediate fell about 0.5% to around $95 per barrel.

Meanwhile, major indices fell sharply on Thursday’s regular trading session as oil prices jumped on renewed worries about supply disruptions. The Nasdaq, the Dow, and the S&P 500 dropped 1.8%, 1.6%, and 1.5%, respectively.

The fall came after Iran’s new Supreme Leader, Mojtaba Khamenei, stated that the Strait of Hormuz should remain closed to pressure enemies.

Coming to the PCE report, consensus expects headline PCE to rise 0.3% month over month and 2.9% from a year ago. Core PCE is projected to increase 0.4% for the month and 3.1% annually.

Further, Q4 GDP (First Revision) will also be released tomorrow. Markets are looking for a revision to the 1.5% growth rate. In addition, the JOLTS Job Openings report on Friday will provide a deeper look into labor demand (job vacancies) for January.

Disclaimer & DisclosureReport an Issue