Oil price surge fuels inflation fears, pushing US markets below key technical support ahead of jobs data.

US stock markets fell last week as rising oil prices driven by the Iran conflict increased inflation concerns, pushing the Consumer Price Index toward 3.5%. All major indices dropped below their 52-week moving averages, signaling weakening market trends and resistance ahead. Investors are closely watching the upcoming March jobs report, forecasted to show a modest payroll increase after February's decline, which will influence the Federal Reserve's policy decisions amid inflation and growth uncertainties. Fed officials' comments this week will be key to understanding future rate moves as energy costs continue to pressure the economy.