Stock Market Today: S&P 500, Dow Futures Up As Oil Prices Fall For First Time Since Iran War Began— Broadcom, Abercrombie & Fitch In Focus (UPDATED)

(Editor’s note: The headline, lede, and prices of futures, commodities, ETFs and stocks were updated and the ADP February jobs data was added)
U.S. stock futures climbed on Wednesday as oil prices fell for the first time since the U.S. and Israel launched strikes against Iran, easing some of the inflation fears that had rattled markets over the prior two sessions.
The pullback came after Treasury Secretary Scott Bessent told CNBC that the Trump administration would make “a series of announcements” to support oil tanker traffic through the Persian Gulf, building on Trump’s Tuesday pledge of naval escorts and political risk insurance via the International Development Finance Corporation.
Higher oil prices have stoked fears of stickier inflation, which could keep the Fed on hold longer and r