Tonight's Highlights| U.S. February Non-Farm Payrolls Unexpectedly Turn Negative; Major Futures Slide

U.S. equity futures tumbled on Friday as a surge in international oil prices weighed on market sentiment, while major European indices fell across the board.

 

Pre-market data revealed a surprising contraction in the labor market: U.S. February non-farm payrolls decreased by 92,000, far missing the estimated increase of 55,000 and the previous month's gain of 130,000. The unemployment rate rose to 4.4%, hitting its highest level since December 2025 (estimates were 4.3%). Additionally, January retail sales fell 0.2% month-over-month.

 

Oil prices continued their ascent Friday as the Middle East conflict entered its seventh day. WTI crude futures breached $86 per barrel, a level not seen since April 2024, while Brent crude surged past $89, hitting a near two-year high.

 

The Qatari Energy Minister warned in a media interview that Gulf energy producers may be forced to declare force majeure and shut down some production in the coming days. He cautioned that this move could propel oil prices toward $150 per barrel, potentially "crippling the world economy."

Corporate News

SoftBank reportedly seeks up to $40 billion loan for OpenAI investment

 

SoftBank Group is reportedly seeking a loan of up to $40 billion, primarily to fund its investment in OpenAI. This would mark SoftBank's largest-ever pure USD-denominated borrowing. Four lenders, including J.P. Morgan, are expected to co-underwrite the facility.

 

Emirates: Full network restoration expected within days

 

Emirates announced on social media that it expects to "fully restore its route network within the next few days," contingent on airspace availability and operational requirements being met.

 

Maersk suspends FM 1 and ME11 routes

 

Maersk has decided to temporarily suspend the FM 1 route (Far East to Middle East) and the ME11 route (Middle East to Europe). The company described the move as a precautionary measure to ensure the safety of personnel and vessels while minimizing network disruption.

 

Ford recalls 1.74 million vehicles over rearview camera defect

 

The NHTSA announced that Ford is recalling 1.74 million vehicles in the U.S. due to a defect in rearview cameras that may cause images to fail to display.

 

Google opens third-party payments; Google Play commission cut to 20%

 

Alphabet announced a systemic overhaul of the Google Play Store, lowering standard in-app purchase fees from 30% to 20% and subscription fees to 10%. The company is also fully opening the platform to third-party payment systems and app stores, marking a fundamental shift in its business model.

 

Anthropic confirmed as U.S. national security "Supply Chain Risk Entity"

 

Anthropic CEO Dario Amodei stated that the company was officially notified by the U.S. Department of War that it has been designated as a supply chain risk entity. Amodei called the move "legally untenable" and confirmed the company would seek legal recourse.

 

Microsoft: Anthropic products remain available to commercial customers

 

Microsoft announced that Anthropic’s AI technology will remain embedded in its customer-facing products, with the exception of those serving the U.S. Department of Defense. This follows the DoD’s move to designate the startup as a supply chain risk.