Daily Market Briefing — 06 March 2026
Markets brace for US Non-Farm Payrolls as geopolitical tensions drive oil above $80 and equities tumble, with the Dow heading for its worst week since October amid Middle East conflict escalation.
Market Recap
Global equities sold off sharply on Thursday as oil prices surged past $80 per barrel on Middle East conflict concerns. The Nasdaq 100 held relatively steady at 25,020.41, down just -0.06%. According to, the Dow lost nearly 785 points in Thursday's session and is on track for its worst week since October.
Key Movers & Themes
- Energy surge dominates: WTI crude jumped +12.86% to $80.39 and Brent rose +9.29% to $84.96 as reports the US offered India a 30-day waiver to buy Russian oil amid deepening energy supply worries from the Iran conflict. notes the UAE is considering freezing billions in Iranian assets, potentially severing a critical economic lifeline for Tehran.
- Tech sector divergence: reports Broadcom's earnings beat lifted sentiment with visibility into over $100 billion in AI chip revenue for 2027, while notes Marvell's stock soared on robust AI-driven demand. highlights Trade Desk shares having their best day in nearly a year on reports of a potential OpenAI partnership.
- China growth concerns: and report China set its lowest economic growth target since 1991, acknowledging domestic challenges and global uncertainty, dialling down growth ambitions to decades-low levels.
Economic Calendar — What to Watch Today
- 13:30 GMT — US Non-Farm Payrolls (Feb): Forecast 59K vs Previous 130K. notes economists expect payroll growth of 50K following January's surprisingly high 130K print. This is today's headline event.
- 13:30 GMT — US Unemployment Rate (Feb): Forecast 4.3% vs Previous 4.3%. Key labour market health indicator alongside NFP.
- 13:30 GMT — US Retail Sales MoM (Jan): Forecast -0.3% vs Previous 0%. Consumer spending data will provide insight into economic momentum.
- 10:00 GMT — ECB President Lagarde Speech: Watch for commentary on eurozone monetary policy amid geopolitical tensions.
- 07:00 GMT — UK Halifax House Price Index YoY (Feb): Forecast 0.9% vs Previous 1%. Domestic housing market health check.
Technical Levels to Watch
| Instrument | Support | Resistance |
|---|---|---|
| S&P 500 | 6,710 / 6,650 | 6,900 / 7,000 |
| NAS100 | 24,800 / 24,300 | 25,100 / 25,400 |
| US30 | 47,575 / 47,000 | 48,500 / 49,250 |
Commodities & Currencies
| Instrument | Price | Change | % Change |
|---|---|---|---|
| WTI Oil | $80.39 | +$9.16 | +12.86% |
| Brent Oil | $84.96 | +$7.22 | +9.29% |
| Gold | $5,127.40 | -$167.00 | -3.15% |
| Silver | $84.39 | -$3.89 | -4.41% |
| Natural Gas | $2.980 | +$0.020 | +0.54% |
| GBP/USD | 1.3367 | -0.0040 | -0.30% |
| EUR/USD | 1.1614 | -0.0145 | -1.23% |
| USD/JPY | 157.73 | +1.10 | +0.70% |
| Bitcoin | $70,644.92 | +$1,869.07 | +2.72% |
Energy markets dominate with WTI and Brent surging over 9% as Middle East conflict escalates. reports oil prices broke through $80 per barrel overnight with Brent futures up 3.54% to $84.31. Precious metals sold off sharply with gold down -3.15% and silver -4.41% as investors rotated into energy and away from traditional safe havens. The dollar strengthened broadly with EUR/USD down -1.23% and GBP/USD -0.30%, while USD/JPY gained +0.70%. and note UK households face rising fuel and food costs if oil prices remain elevated.
Trading Outlook
All eyes on US Non-Farm Payrolls at 13:30 GMT with expectations for a sharp slowdown to 59K from 130K — a weaker-than-expected print could trigger further equity weakness amid existing geopolitical jitters. Energy markets remain the key driver with oil volatility likely to persist as reports Trump hinted the US will turn to Cuba after Iran, calling it "just a question of time", suggesting further geopolitical uncertainty ahead.
This briefing is generated using AI analysis of market data and news feeds, reviewed by the ChartsView team. It does not constitute financial advice. Always do your own research before making trading decisions.