The Nightcap: Nasdaq 100 futures settle 2.5% lower and Brent hits $110 as Hormuz attacks widen
Equity futures are closed until Sunday evening. They settled Friday with Nasdaq 100 down 2.50% and S&P 500 down 1.13%, while Iran's attacks on shipping took Brent to a five-month high.
The weekend's biggest risk is the Strait of Hormuz. Brent futures touched $110 a barrel on Friday for the first time since May and settled at $109.86, up 3.7%, while WTI settled at $101.41, up 3.5% on the day and more than 10% on the week, CNBC reported. Stock index futures cannot react until the Globex reopening at 6 PM ET Sunday, so oil is the first thing to watch.
Where futures settled Friday
CME equity futures stopped trading at 5 PM ET and do not reopen until Sunday evening. There is no live overnight price tonight. These are Friday's final settlements, read from Yahoo Finance after 9 PM ET.
| Instrument | Friday settle | Change on day | Cash close |
|---|---|---|---|
| S&P 500 futures | 7,703.00 | -1.13% | 7,659.44 (-1.09%) |
| Nasdaq 100 futures | 29,391.25 | -2.50% | 29,187.55 (-2.50%) |
| Dow futures | 52,200 | -0.44% | 52,002.41 (-0.34%) |
| Gold futures | $4,186.70 | +0.40% | n/a |
Futures changes are against Thursday's settlement. Index futures are quoted above cash because the contract carries a premium for time, so a gap of 40 to 200 points is normal, not a signal. Gold futures are a different contract from spot gold, which our markets board showed at $4,165.42, down 0.13%, at 9:01 PM ET.
Why oil is the headline
CNBC counted at least nine tankers and cargo ships attacked in the strait since Sunday, including the container ship GFS Pride, which Iran sank on Wednesday. Houthi missiles were fired at Saudi Arabia again on Friday, with one heading toward the Yanbu export terminal, according to the Saudi military. Kpler data cited by CNBC put Hormuz crude exports at 9.4 million barrels a day last week, about 70% of the pre-war average.
The same report said the Russia-Ukraine "energy ceasefire" has unraveled and Kyiv will resume refinery strikes. AAA put U.S. diesel at $6.33 a gallon, more than 70% above a year ago. That figure lands directly on trucking, delivery and farm budgets.
The Nasdaq's slide came from a different place. The AI-infrastructure names fell hardest, and our close story has the week's numbers: the S&P 500 down 1.95% and the Nasdaq 100 down 5.49%.
Rates, dollar and crypto
The Treasury's par curve had the 10-year at 5.09% Friday, down from 5.10% Thursday and 5.19% on Wednesday. The 2-year was 4.74% and the 30-year 5.43%. The dollar index was 101.46 at 9:01 PM ET. Fresh deficit math is in our report on the $1.99 trillion fiscal 2026 gap.
Crypto trades through the weekend. Per Coinbase quotes on our board at 9:01 PM ET, Bitcoin was $81,407.57, down 1.00% over 24 hours, and Ether was $2,418.34, down 0.82%.
What to watch
First, any Hormuz or Saudi headline before Sunday's reopening. Then the economic calendar: building permits on Tuesday, October 20 (forecast 1.395 million against 1.394 million before), jobless claims on Thursday, October 22 (forecast 200,000 against 199,000), and flash PMIs on Friday, October 23 (prior 58.4). The Fed decides on October 28.
Sources: Yahoo Finance, Chronicle markets board, U.S. Treasury, CNBC, Coinbase. Quotes may be delayed. This is market information, not investment advice.
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