Pre-market futures trade lower

Economic Overview - Pre-market futures are down after a positive close on Wednesday, with the Dow down 394 points, S&P 500 down 59 points, and Nasdaq down 274 points [1] - A light week of economic reports is expected until next week, which is referred to as "Jobs Week" [1] Oil Market Insights - The situation in Iran is impacting oil prices, with a peace plan being discussed by President Trump and Iranian officials, although there are conflicting reports from Iran [2] - Israel's military actions against Iran are focused on dismantling its nuclear program, which may require U.S. ground troops, leading to declining support for the conflict among Americans [3] - The Strait of Hormuz, a critical route for 20% of global oil supply, has been affected, contributing to a rise in U.S. gasoline prices by approximately $1 per gallon [4] - Spot oil prices have increased significantly, with West Texas Intermediate (WTI) rising 76% from December lows to $94.30 per barrel, and Brent crude up 88% to $107.80 [5] Employment Data - Initial Jobless Claims for last week were reported at 210K, matching expectations and indicating a stable employment market [6] - Continuing Claims fell to 1.819 million, the lowest since May 2024, following a downward revision from the previous week [7]