Stock market today: Dow, S&P 500, Nasdaq futures held steady with key jobs report set to cap volatile week

US stock futures were little changed Thursday evening after another volatile session on Wall Street, as investors continue to react to an expanding conflict between the US-Israel coalition and Iran ahead of Friday's key jobs report.

Futures linked to the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and Nasdaq 100 (NQ=F) all hovered around the baseline.

During Thursday's regular session, the S&P 500 (^GSPC), Nasdaq Composite (^IXIC) and Dow (^DJI) all closed in the red. The S&P 500 is on track for a weekly decline, while the Dow has fallen over 2% and breached negative territory for 2026. The Nasdaq has bucked the trend, heading for a small weekly gain.

Energy markets were again a major focus for traders. Oil prices surged Thursday, with. West Texas Intermediate (CL=F) and Brent (BZ=F) crude futures both touching their highest levels since 2024. The gains see crude on track for its largest weekly percentage gain since March 2022.

Investors are now turning domestic attention to the February employment report due Friday. Economists surveyed by Bloomberg expect the report to show job growth of about 55,000, down from January’s gain of 130,000. The US unemployment rate is projected to remain unchanged at 4.3%.

Meanwhile, President Trump's tariffs have returned to the headlines following the news that a federal judge has ruled that his administration must begin the process of refunding up to $130 billion in tariffs that were struck down by the Supreme Court.

More than two dozen states and 2,000 companies, including Costco (COST) and Fedex (FDX), have joined a court case against the government. "I guess it has to get litigated for the next two years," Trump said of the case.