Stock Futures Tumble as Crude Climbs Back Above $100

Fears of renewed Middle East tensions are triggering West Texas Intermediate (WTI) crude prices to climb above $101 per barrel, just as tech stocks extend their selloff and AI fears grip investors. The 10-year Treasury yield is also on the move, last seen at 4.97%. In response, futures on the Dow Jones Industrial Average (DJI) are off more than 400 points, while the tech-heavy Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) suffer moderate premarket pullbacks as well. Ahead of the open, the Dow and S&P 500 are headed for weekly wins, while the Nasdaq eyes a modest five-day loss.

Continue reading for more on today's market, including:

• Pre-earnings workup for blue-chip Boeing stock.
• A premium options strategy for your earnings season toolbelt.
• Plus, drugmaker data drama; footwear maker pulls back; and another win for SpaceX.

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.1 million call contracts and 1.5 million put contracts traded on Thursday. The single-session equity put/call ratio rose to 0.69, while the 21-day moving average remained at 0.59. 
2. Moderna Inc (NASDAQ:MRNA) is sliding 3.7% before the bell, after the pharmaceutical name suffered a partial data leak regarding its trial for a co-developed cancer vaccine drug with Merck (MRK). MRK is 0.6% lower at last check. For 2026, MRNA has surged 587%.
3. Deckers Outdoor Inc (NASDAQ:DECK) is sliding 2.9% in pre-market trading, after the shoemaker posted a fiscal second-quarter earnings and revenue miss. Should these losses hold, DECK will be headed for a third-straight daily drop and pulling down its already steep, 17% year-to-date deficit. 
4. Space Exploration Technologies Corp (NASDAQ:SPCX) is 2.7% higher ahead of the open, continuing its banner week with a double upgrade out of PhillipCapital to "buy" from "sell." The firm also hiked its price target to $250 from $75, saying the company's AI business has an impressive outlook. SPCX has added 22% over the past three months.
5. Earnings season continues to make noise as the week closes out. 

British Consumer Spending Drags Bourses

Asian stocks ended Friday’s session mostly higher, despite lingering concerns about AI overspending and rising crude prices. Fresh inflation data out of Japan showed core consumer prices climbing 2.1% year over year in September, the fastest pace of 2026 so far. The reading came in above expectations, with a weaker yen, higher import costs, and energy prices adding pressure. Japan’s Nikkei lost 0.3%, but the Shanghai Composite advanced 0.9%, Hong Kong’s Hang Seng gained 0.7%, and South Korea’s Kospi tacked on 0.3%.

Stocks are moving lower across Europe Friday. U.K. retail sales fell 0.4% month over month in September, compared with the 0.1% decline economists anticipated, according to a Reuters poll. London’s FTSE 100 has fallen 0.6%, while France’s CAC 40 is down 0.8% and Germany’s DAX has dropped 1%.