Uso Stock Mentioned as Oil Surges Above $90 and Stocks Drop

Friday at 4: 00 p. m. ET, oil surged to its highest price since 2023 and U. S. stocks fell: the S&P 500 dropped 1. 3% and the Dow lost 453. 19 points, while the report includes the term uso stock in headlines. The timing was driven by oil jumping above $90 per barrel and an unexpected payroll decline of 92, 000 jobs.

S&P 500 and Dow Slide After Jobs Report and Oil Jump

U. S. employers unexpectedly cut 92, 000 jobs last month, and that weak jobs update combined with a sharp rise in oil prices to knock equities lower, capping Wall Street’s worst week since October. The Dow closed down 453. 19 points at 47, 501. 55, and the Nasdaq composite fell 1. 6% in the session that followed those releases.

Investors reacted to the dual signal of slowing payrolls and rising energy costs: a weaker labor market suggests lower growth, while spiking oil pushes inflation higher. Brian Jacobsen, chief economic strategist at Annex Wealth Management, said, “You can’t sugarcoat this report, ” highlighting concerns about stagflation — the mix of a stagnating economy and high inflation.

Uso Stock Mention in Markets as Brent and U. S. Crude Rally

Oil’s move was pronounced across benchmarks: Brent crude settled at $92. 69 per barrel after leaping 8. 5% and briefly rising above $94, while a barrel of U. S. benchmark crude jumped 12. 2% to $90. 90, marking the first breach of $90 since 2023. Market commentary tied the surge to expansions of the Iran war into areas critical for oil production and transport, and to worries about the Strait of Hormuz off Iran’s coast.

Dustin Reid, vice-president and chief strategist for fixed income at Mackenzie Investments, said, “The concern here that’s been creeping into the market throughout the week is that this conflict is going to be longer than originally discussed and oil prices, energy prices are going to remain higher for longer. ” He described how sentiment shifted from inflation fears to worries about lower growth as oil climbed.

The hit to equities extended beyond U. S. markets. The S&P/TSX composite dropped 526. 25 points to 33, 083. 72, with consumer cyclicals among the worst performers in Canada. Fraser Johnson of the Ivey Business School noted that higher global energy costs could feed through to supply chains and consumer prices, lifting the cost of living even where direct imports from the Gulf region are limited.

Retail sales data released the same day showed U. S. retailers made less money in January than economists expected, adding to concerns that household spending — the main engine of the U. S. economy — may be reaching its limit. That combination of softer spending and spiking energy costs deepened investor unease.

Brent’s surge is notable in historical terms: it briefly rose above $94 to touch its highest level since September 2023, and Brent finished the session at $92. 69. The U. S. crude benchmark’s jump to $90. 90 represented a 12. 2% intraday rise, underscoring how rapidly markets repriced risk as geopolitical tensions expanded.

Policymakers face a difficult trade-off. The Federal Reserve cut its main interest rate several times last year and had signaled additional cuts were possible, but spiking oil prices create fresh inflationary pressure, complicating a path to lower rates without stoking price gains.

Market participants noted the U. S. government outlined a plan to offer insurance to ships crossing the Strait of Hormuz after the president’s earlier announcement, but that detail had little calming effect on prices during the session.

More immediate market readings showed sharp index moves: the S&P 500 lost 90. 69 points to close near 6, 740. 02 in the session noted, and the Nasdaq fell 361. 31 points to around 22, 387. 68. The combination of a weaker jobs reading and oil above $90 pushed traders to reassess both growth and inflation prospects.

Markets reopen Monday at 9: 30 a. m. ET. If oil prices remain elevated and payroll trends stay weak, analysts warn inflationary pressure and slower growth could keep volatility elevated into the coming weeks.