08:06 AM EDT, 03/27/2026 (MT Newswires) -- US stock futures are tracking lower in Friday's premarket session amid rising interest rates and surging oil prices, as investors show little confidence after President Donald Trump extended a deadline for Iran to reopen the Strait of Hormuz Thursday.

The Dow Jones Industrial Average futures were down 0.3%, S&P 500 futures were declining 0.3%, and Nasdaq futures were 0.5% lower.

Oil prices were moving sharply higher, with front-month global benchmarks Brent crude rising 2.4% to $104.38 a barrel, while West Texas Intermediate crude was up 2.7% to $97.01 a barrel.

The University of Michigan consumer sentiment report for March, which tracks current and future economic conditions, will be released at 10 am ET. The reading is expected to drop to 54 from 55.5 the previous month, according to analysts polled by Bloomberg.

The Baker Hughes domestic oil-and-gas rig count, which gauges the oil drilling industry, will be announced at 1 pm ET.