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March 6, 2026 – 09:37

(Bloomberg) — Stocks paused alongside muted moves in oil, the dollar and bonds as traders continued to assess energy markets amid a fresh barrage of military strikes across the Middle East.

Futures for the S&P 500 were little changed after a week of sharp swings that saw investors repeatedly recalibrate expectations for the duration and impact of the US-Israeli war against Iran. US Treasuries edged lower, with the 10-year yield on course for its biggest weekly climb in nearly a year ahead of February’s payrolls report.

Oil resumed gains. Brent crude ticked toward $86 a barrel as data showed maritime traffic in the Strait of Hormuz had ground to a near-complete halt. Crude initially dropped at the start of Asian trading as the US weighed options to address the spike in energy costs.

Oil is heading for its biggest weekly jump since 2022, raising fears of a renewed inflation spike amid stretched equity valuations after a rally fueled by bets on artificial intelligence. The employment report due Friday is expected to show hiring moderated last month after a strong reading in January, and unemployment held steady.

“What matters now is whether the war will last days, weeks, or longer,” said Marco Oviedo, senior strategist at XP Investimentos. The possibility that the conflict doesn’t last long “remains the base case, and that the US is winning the battle. But Iran’s refusal to back down is keeping things tense,” he said.

Corporate Highlights:

Oracle Corp. is planning to ax thousands of jobs among its moves to handle a cash crunch from a massive AI data center expansion effort. Marvell Technology shares are up 10% in extended trading after the chipmaker’s first-quarter outlook was stronger than expected. Some of the main moves in markets:

Stocks

The Stoxx Europe 600 rose 0.4% as of 8:32 a.m. London time S&P 500 futures were little changed Nasdaq 100 futures were little changed Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index rose 0.2% The MSCI Emerging Markets Index rose 0.1% Currencies

The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1604 The Japanese yen was little changed at 157.62 per dollar The offshore yuan rose 0.2% to 6.9017 per dollar The British pound was little changed at $1.3363 Cryptocurrencies

Bitcoin fell 0.2% to $70,991.31 Ether fell 0.1% to $2,078.26 Bonds

The yield on 10-year Treasuries advanced one basis point to 4.15% Germany’s 10-year yield advanced two basis points to 2.86% Britain’s 10-year yield advanced three basis points to 4.57% Commodities

Brent crude rose 0.6% to $85.93 a barrel Spot gold rose 0.3% to $5,100.07 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Anand Krishnamoorthy.

©2026 Bloomberg L.P.