Nasdaq 100 futures extend gains to hit session high of 0.4%

Nasdaq 100 futures extended gains to a session high of 0.4% on March 13, 2026, driven by a 2% rise in Google parent company Alphabet shares and broader market optimism amid easing oil price pressures according to market data. This marked a reversal from the prior day, when the index had slipped 0.05% amid surging crude prices and geopolitical tensions as reported. The rebound came as traders digested mixed signals about the market's near-term trajectory, balancing concerns over artificial intelligence-driven energy demands and potential Federal Reserve policy shifts.

Oil prices retreated slightly following a sharp 9.72% surge in West Texas Intermediate futures on March 12, which had been triggered by Iran's Supreme Leader Mojtaba Khamenei declaring the Strait of Hormuz—a critical global oil transit route—should remain closed as a geopolitical tool according to CNBC. While energy costs remain elevated, the pullback provided temporary relief to equity markets. Meanwhile, AI-related jitters persisted, with Morgan Stanley's Chris Toomey highlighting the sector's energy intensity as a growing concern as noted.

The Nasdaq 100's performance contrasted with broader market weakness, as the Dow Jones Industrial Average and S&P 500 remained on track for weekly declines of 1.7% and 1%, respectively according to market analysis. Investors will closely watch Friday's release of the January personal consumption expenditures (PCE) price index, which could influence expectations for Federal Reserve rate cuts as reported. Despite the Nasdaq's short-term gains, analysts emphasized that sustained geopolitical or energy disruptions could reignite volatility.