【US Stock Pre-market】Dow Futures Down 217 Points, Nasdaq Futures Down 0.3% Brent Crude Oil Once Surged Above $100 (Continuously Updated)

Oil tankers in the Persian Gulf were attacked by Iranian unmanned boats, causing oil prices to surge again. Brent crude futures rose by over 10%, once again surpassing $100 per barrel. Chubb Insurance announced it will be the primary underwriter for a $20 billion plan led by the U.S. government, aimed at insuring ships passing through the Strait of Hormuz, in cooperation with the U.S. International Development Finance Corporation (DFC), to help oil tankers and other commercial vessels resume navigation amid Iran-related risks.

U.S. stock futures declined before the market open on Thursday, with Dow futures down 217 points at 47,231, S&P 500 futures down 23 points at 6,755, and Nasdaq futures down 70 points or 0.3% at 24,913. Last week, initial unemployment claims in the U.S. were 213,000, below the expected 215,000. The continuing claims as of the week ending February 28 were 1.85 million, down 21,000 from the previous week, in line with expectations. January new home starts increased by 7.2% month-on-month to 1.487 million, exceeding the forecast of 1.34 million.

The US dollar index recovered above 99, currently at 99.36; concerns about inflation slowing the Fed’s rate hikes have pushed U.S. long-term bond yields above 4.2%, now at 4.22%. International gold is at $5,190 per ounce, up 0.2%.

Goldman Sachs has raised its Q4 2026 Brent crude forecast from $66 to $71 per barrel and WTI from $62 to $67, citing the current Iran conflict and longer-than-expected disruption of oil shipments through the Strait of Hormuz.

The bank also warned that if the blockage persists until the end of March, international oil prices could exceed the 2008 high, potentially surpassing $147 per barrel. Their baseline assumption is that oil supply passing through the Strait of Hormuz will be reduced to 10% of normal levels for 21 days, longer than the previous estimate of 10 days, after which transportation is expected to gradually recover.

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Market Trends:

【18:20】Dow futures down 217 points, Nasdaq futures down 0.3%, Brent crude surpasses $100

【13:33】Dow futures down 496 points at 46,952; S&P futures down 59 points at 6,720; Nasdaq futures down 222 points or 0.9% at 24,760.

【13:26】【ORCL Analysis】Oracle reports strong earnings, up 9% after the market; JPMorgan upgrades rating, optimistic about long-term value of data management business.

【12:59】【US Stock Focus】Short positions hit a 3-year high; Goldman Sachs: positive news could trigger “extreme” rally in US stocks.

【11:51】【Oil Price Analysis】IEA releases oil reserves; prices rise nearly 9%. Analysis: “A drop in the bucket,” short-term volatility expected.

【11:20】【Iran Crisis】Morgan Stanley maintains forecast of two rate cuts by the Fed this year, but oil shocks may delay easing until September.

【11:04】【Yen Trend】Yen approaches its lowest of the year, at 4.92 HKD; outlook has changed, with higher thresholds for official intervention expected.

【10:58】【Iran Crisis】Oxford Economics: If oil stays at $140 for two months, global recession and 5.8% inflation could occur.

【10:07】【Apple】Rumors suggest foldable iPhone may feature iPad-like interface; wide-screen aspect ratio could be a key selling point.

【09:54】【US Tariffs】US initiates new trade investigations on 16 partners including China, Japan, Korea, and Europe, paving the way for new tariffs.

【08:32】【Gold Trend】Gold declines for the second day, affected by rising oil prices and bleak rate hike outlook.

【07:28】【Iran Crisis】Two ships in the Persian Gulf caught fire and exploded; Brent crude surges past $100 again. Iranian officials hint at blocking the Red Sea entrance (updating).

【07:15】【Iran Crisis】IEA members agree to release 400 million barrels of emergency oil reserves; US releases 170 million barrels, Japan 80 million, South Korea 22.46 million, UK 13.5 million.

Below $1: US stock market overview for March 11====

Wednesday: US military warns Iran civilians to stay away from the Strait of Hormuz, warning of attack targets; oil prices up 4%; Dow drops 289 points; Nasdaq stable.

The U.S. Central Command issued a warning to Iranian civilians, alleging Iran is using civilian ports along the Strait of Hormuz for military activities, threatening international shipping, and making them legitimate military targets under international law. Oil prices rose again, with the Dow dropping up to 520 points.

Market close summary:

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The Dow closed at 47,417, down 289 points; the S&P 500 retreated 0.08% to 6,775; the Nasdaq edged up 0.08% to 22,716. Oracle’s earnings and outlook exceeded expectations, soaring 9.2%; Nvidia rose 0.7%.

Oil prices continued higher, with WTI at $87.25, up 4.55%, and Brent at $91.98, up 4.76%.

Iranian media reported that the Islamic Revolutionary Guard Corps announced that the Mayuree Naree was attacked after ignoring warnings from IRGC Navy. According to shipping website MarineTraffic, the Mayuree Naree is in the Strait of Hormuz.

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The French news agency AFP quoted a military spokesperson saying: “The policy of proportional retaliation has ended; from now on, our policy will be continuous strikes. No oil shipment passing through the Strait of Hormuz will be allowed to benefit the U.S., Zionist regime, or its partners.”

However, Japan and other countries will release oil reserves. The International Energy Agency (IEA) issued a statement that 32 member countries have agreed to release 400 million barrels from emergency reserves, the largest ever, to address the market chaos caused by the Middle East war.

Chubb Insurance will lead a U.S.-government-led plan to insure ships crossing the Strait of Hormuz. As part of a $20 billion initiative, Chubb will cooperate with the U.S. International Development Finance Corporation (DFC) to help oil tankers and other commercial vessels resume navigation amid Iran-related risks.

U.S. February inflation data met expectations, with overall CPI rising 2.4% year-on-year, and monthly increase at 0.3%, up 0.1 percentage points from the previous month. Core CPI rose 2.5% annually but slowed to 0.2% month-on-month, down 0.1 percentage points. Notably, this does not yet reflect the impact of soaring international oil prices due to the Middle East conflict.

The Trump administration reportedly will launch trade investigations to pave the way for new tariffs; The New York Times cited sources that after the Supreme Court rejected Trump’s tariff agenda, the Biden administration will announce a series of trade investigations on Wednesday under Section 301 of the Trade Act, covering digital service taxes and currency manipulation, marking an important step in rebuilding the tariff wall.

Hong Kong stocks and ADR markets are continuously updated. Details on the next page.

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Market Trends:

【21:30】Memory stocks rebound; Micron up 2%; Dow up 101 points; Nasdaq up 0.3%; oil prices retreat 8%.

【18:00】Dow futures up 101 points; Nasdaq futures up 0.3%; oil prices down 7%; Oracle reports earnings after close.

【12:43】Dow futures down 183 points at 47,586; S&P futures down 24 points at 6,777; Nasdaq futures down 84 points or 0.3% at 24,906.

【12:09】【Iran Crisis】Iran conflict impacts markets; senior strategist Yardeni: US stocks may crash by 35% before year-end.

【11:15】【Tencent】Reported planning to acquire Warner Bros. from Paramount, investing hundreds of millions.

【10:33】【Iran Crisis】Oil surges past $100, with WTI up 30%; major Middle Eastern producers cut output.

【10:20】【Iran Crisis】Oil price spike drags down Asia-Pacific markets; Japan and Korea down over 7%; South Korea considers oil price cap measures.

【09:56】【Iran Crisis】JPMorgan: Middle Eastern oil capacity may decrease by 4 million barrels daily by next weekend.

【09:50】【Iran Crisis】Schroders’ Tedder: Oil may hit $100; “I won’t reduce energy stocks in next 2-3 years.”

【08:17】【Iran Crisis】Gold drops over 2%, testing $5,000; oil surge intensifies inflation fears.

【07:30】【Iran Crisis】Black Monday begins; oil up 20%, nearing $111; Trump: low cost; Dow futures plunge 1,112 points (updating).

【07:30】【Global Outlook】Focus on Middle East conflict and US inflation data; US markets open an hour earlier.

【07:30】Concerns over oil supply disruptions and worse-than-expected US jobs data caused last Friday’s sharp decline; Dow once fell 945 points to 47,009; VIX volatility index surged 21.6% to 28.88. The Dow closed down 453 points, S&P down 1.33%, Nasdaq down 1.59%.

Market close summary: