U.S. stock futures were pointing lower on Thursday, suggesting a downbeat open after a mixed session the day before. It's one of those mornings where the market seems to be weighing a lot of different inputs—geopolitical noise, corporate earnings, and some big-picture economic views from major players.

In Kentucky, President Donald Trump made a notable claim, asserting that the U.S. has "won" the war against Iran, pointing to a severely weakened Iranian military. The statement didn't come with a specific end date for hostilities, and regional attacks are reportedly ongoing. Meanwhile, over at the Energy Department, Secretary Chris Wright announced plans to release 172 million barrels from the Strategic Petroleum Reserve starting next week. The goal is pretty straightforward: try to put a lid on energy price spikes that often accompany conflict. Adding to the international pressure, the United Nations Security Council condemned Iran for attacks on Gulf countries and Jordan.

In the bond market, the 10-year Treasury yield was at 4.22%, with the two-year at 3.65%. Traders, according to the CME's FedWatch tool, are placing a 99.3% probability on the Federal Reserve holding interest rates steady at its next meeting in March. It seems the central bank is firmly in wait-and-see mode for now.

The popular ETFs that track the broad market were also lower premarket. The SPDR S&P 500 ETF Trust (SPY) was down 0.52% at $672.78, and the Invesco QQQ Trust ETF (QQQ), which follows the Nasdaq 100, declined 0.53% to $604.49.

Stocks on the Move

Bumble

Bumble Inc. (BMBL) was the standout gainer, jumping 22.89% in premarket trading. The catalyst was a fourth-quarter earnings report that came with a strong revenue outlook for the first quarter. It's a nice win for the dating app company, though market data indicates it maintains a strong price trend only in the short term, with weaker trends over the medium and long term and a poor growth ranking.

Morgan Stanley

On the other side, Morgan Stanley (MS) shares declined by 1.80%. The bank made a move that often makes investors nervous: it restricted redemptions at one of its private credit funds after withdrawals surged. It's a sign of stress in that corner of the market. According to market data, MS shows weaker price trends across short, medium, and long terms, with a poor quality score.

UiPath

UiPath Inc. (PATH) fell 5.41% in a classic case of "sell the news," even though its fourth-quarter earnings actually beat expectations. The board also authorized a new $500 million share buyback program, and the company's fiscal 2027 revenue guidance of $1.754 billion to $1.759 billion came in above the $1.744 billion estimate. Sometimes good numbers just aren't good enough for the market on a given day. Market data shows PATH with weaker price trends across all timeframes and a poor value ranking.

GlobalFoundries

Globalfoundries Inc. (GFS) shares plunged 4.15%. The chipmaker priced a secondary offering of 20 million ordinary shares at $42.00 per share. New shares hitting the market often dilute existing holders and can pressure the stock price. Market data indicates GFS has a stronger price trend over the medium and long term, but a weak trend in the short term, alongside a solid growth score.

Adobe

Adobe Inc. (ADBE) was down slightly, 0.36%, as the market waited for its earnings report after the closing bell. Analysts expect the software giant to report earnings of $5.87 per share on revenue of $6.28 billion. Market data shows ADBE with weaker price trends across the board but a moderate quality score.

Looking Back at Wednesday

The previous session ended with a mixed picture. Only the energy, communication services, and information technology sectors managed to finish in the green. Everything else in the S&P 500 declined.

What the Big Money Is Thinking

In its March 2026 commentary, asset management giant BlackRock laid out its stance. The firm remains overweight U.S. equities, even with a Middle East conflict causing what it calls a "supply chain shock." Their thesis is that the U.S. economy will be more resilient than its international peers because it's less dependent on energy imports.

BlackRock expects the U.S. market to be driven by "strong corporate earnings, driven in part by the AI theme," alongside "continued Federal Reserve easing." They see a risk of a stagflationary shock but believe it's "not a given" and expect disruptions to last weeks rather than months. However, they do warn of "structurally sticky inflation" in the broader economy.

Some key quotes from their commentary highlight the thinking:

• "That leadership has reversed abruptly: equity markets in regions most dependent on energy imports have sagged sharply whereas the MSCI U.S. has been steady."
• "We stay underweight long-term Treasuries and favor U.S. stocks."
• "The yield increase aligns with our view that we are at risk of an inflationary supply shock, rather than a demand-driven growth slowdown."

In short, BlackRock views the U.S. as a relative haven, which reinforces its "long-held view of a world shaped by supply."

Economic Calendar for Thursday

Investors have a few data points to digest later in the morning:

• At 8:30 a.m. ET, we'll get initial jobless claims for the week ending March 7, January's U.S. trade deficit data, and February's housing starts and building permits figures.

Around the Markets

Commodity markets were anything but quiet. Crude oil futures were trading sharply higher, up 5.67% in the early New York session to hover around $92.20 per barrel. That's the kind of move that gets everyone's attention.

Gold was slightly higher, with the spot price up 0.08% to around $5,180.31 per ounce. Its last record high was $5,595.46. The U.S. Dollar Index, which measures the greenback against a basket of other currencies, was 0.14% higher at the 99.3660 level.

In crypto, Bitcoin was trading 0.38% higher at $5,180.31 per coin over the last 24 hours.

Global equity markets were mostly lower. Asian indices, including Hong Kong's Hang Seng, India's Nifty 50, and Japan's Nikkei 225, closed in the red. European markets were also trading lower in early trade.