US stocks dip as oil tops $100 amid Middle East tensions and cautious jobs outlook.

US stock markets opened lower with the Dow down about 150 points and the S&P 500 modestly lower as June WTI crude oil surged above $100 due to escalating tensions in the Middle East, particularly Iran's claim of hitting a US warship. This spike in oil prices raises concerns about higher fuel costs impacting airlines, shippers, and other companies, while also reducing the likelihood of Federal Reserve rate cuts. Investors are also closely watching the upcoming April jobs report, which is forecasted to show a sharp slowdown in job growth, adding uncertainty to market direction. Technical indicators suggest a cautious but still bullish trend, with key pivot levels to watch for potential shifts in momentum.