Dow Futures Hold Ground After 800-Point Selloff As Oil Surge Hits Wall Street: Why MRVL, USO, COST, HELP Are Trending After-Hours

U.S. crude surged above $80 per barrel after a reported Iranian missile strike on an oil tanker.

• U.S. stock futures stabilized late Thursday after a sharp sell-off that erased nearly 800 points from the Dow.
• Eight of the 11 S&P 500 sectors closed lower, with industrials, materials, consumer staples, and healthcare each falling at least 2%.
• Asian stocks mostly fell at Friday's open, pulling the broader MSCI Asia Pacific Index down to its steepest weekly decline since 2020. 

U.S. stock futures steadied late Thursday following a sharp sell-off that wiped nearly 800 points off the Dow, as geopolitical tensions and surging crude prices kept investors on edge.

As of 9.20 p.m. ET, Nasdaq 100 and S&P 500 futures were up 0.1%, while Dow futures were up 0.2%.

On Stocktwits, retail sentiment toward the SPDR S&P 500 ETF Trust (SPY) was ‘neutral’ amid ‘high’ message volume, while sentiment toward the Invesco QQQ Trust (QQQ) and SPDR Dow Jones Industrial Average ETF Trust (DIA) was ‘bearish’ amid ‘high’ message volume.

US Market Drivers

In the prior session, the Dow Jones Industrial Average fell 1.6%. The S&P 500 Index slipped 0.6, while the Nasdaq Composite dipped 0.3%.

Eight of the 11 sectors in the S&P 500 closed lower during the session, with industrials, materials, consumer staples, and healthcare each losing at least 2%.

Energy markets remained a key driver of volatility. U.S. crude oil prices surged above $80 per barrel during Thursday’s session after Iran reportedly struck an oil tanker with a missile. West Texas Intermediate crude settled up 8.5% at $81.01 per barrel, its highest level since 2024, while Brent crude climbed nearly 5% to around $85.41.

The spike in oil prices triggered sharp swings in equity markets. At one point during the session, the Dow fell more than 1,100 points, or about 2.4%, as crude prices crossed the $80 mark before recovering slightly into the close.

Oil markets have been shaken by the expanding conflict in the Middle East, which has involved about a dozen countries since hostilities intensified late last month. Traffic through the Strait of Hormuz, a critical route that handles roughly one-fifth of the world’s oil supply, has slowed amid rising security risks.

Mohamed El-Erian said on X that the situation involves key market “guardrails” that are currently under stress and warned that if they fail to hold, “the economic and financial dynamics could shift from the more predictable mean reversion to the more uncertain ‘multiple equilibria.’”

Meanwhile, investors are also monitoring policy developments in Washington. Treasury Secretary Scott Bessent said the Trump administration’s newly announced 15% global tariff is expected to take effect this week.

Despite the broader decline in equities, Berkshire Hathaway stood out as a rare gainer, rising nearly 3% after the company said it has resumed share repurchases for the first time since 2024. CEO Greg Abel also purchased about $15 million worth of company stock.

Trending Stocks To Watch On NYSE, Nasdaq

Indonesia Energy Corp (INDO), Battalion Oil Corp (BATL), United States Oil Fund (USO): INDO rose over 1% in extended trading, while BATL jumped nearly 16%, as oil prices headed for their biggest weekly gain since 2022. USO climbed to its highest level in six years.

Marvell Technology (MRVL): Shares surged about 15% after-hours as the company issued first-quarter fiscal 2027 revenue guidance above Wall Street estimates and projected full-year revenue growth of more than 30%.

Costco Wholesale (COST): Shares slipped slightly in extended trading despite the warehouse retailer reporting second-quarter earnings and revenue that topped analyst estimates.

Helus Pharma (HELP): Shares plunged 34% in Thursday’s session, marking their worst trading day on record, after Phase 2 results for its anxiety treatment HLP004 disappointed investors.

Newsmax (NMAX): Shares headed for their best weekly performance since the company’s IPO following strong viewership numbers tied to its coverage of President Donald Trump’s State of the Union address.

How Global Markets Are Performing Today

In broader markets, the yield on the benchmark 10-year U.S. Treasury note was around 4.14%, while gold traded near $5,093 an ounce in early Asian trading. Silver was near $82.47, while platinum and palladium also moved higher.

Asian markets were lower on Friday, with stocks in Japan, South Korea and Australia falling at the open, pulling the broader MSCI Asia Pacific Index down about 0.6%. The index has dropped roughly 6.7% since the war began, marking its steepest weekly decline since 2020.

Among the catalysts for the day are the U.S. employment report, retail sales data, business inventories and consumer credit figures, along with remarks from Federal Reserve officials Mary Daly and Beth Hammack.

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