Stock futures indicated a downward trend on Friday in anticipation of the forthcoming U.S. jobs report for May. Tech stocks experienced a decline for the second consecutive day, negatively impacting the S&P 500’s prospects of achieving a 10th consecutive weekly gain. Futures for the Nasdaq 100 and S&P 500 experienced declines of 1.0% and 0.4%, respectively, whereas futures for the Dow Jones Industrial Average saw a modest increase of 0.2%. Yesterday, major stock indexes concluded the trading session predominantly in positive territory, with the Dow achieving a record high.

In contrast, shares of Broadcom and other AI chip manufacturers experienced a decline. The Dow and S&P 500 concluded Friday with gains of 1.0% and 0.1% for the week, respectively, whereas the Nasdaq Composite experienced a decline of 0.5%. Broadcom dropped 13% Thursday and was down 1.5% before the bell Friday. Other AI-tied stocks pointed lower in premarket trading, including Nvidia, Marvell Technology, Micron Technology, Advanced Macro Devices, and Intel, which were all down between roughly 1.5% and 3%. Investors are concentrating this morning on the May jobs report, scheduled for release at 8:30 am. U.S. employers added 115,000 jobs in April, surpassing economists’ estimates by more than twofold, while projections indicate an addition of 80,000 positions in May.

The unemployment rate is observed to have held steady at 4.3%, which is considered a relatively low level by historical standards. The 10-year Treasury yield, a key determinant of interest rates on mortgages and various consumer loans, hovered around 4.48% prior to the reading, showing minimal variation from Thursday’s closing figure. Oil prices exhibited minimal variation on Friday following a decline of approximately 3% the previous day. West Texas Intermediate futures, the U.S. crude oil benchmark, decreased by 0.1% to $92.95 per barrel, whereas front-month contracts of Brent crude, the global benchmark, also fell by 0.1% to $94.95.

Bitcoin traded as low as approximately $61,100 today—its lowest level since early February—and recently hovered around $62,800, reflecting a decline over the past 24 hours. Robinhood Markets, MARA Holdings, and other cryptocurrency-tied stocks declined along with it. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, experienced a decline of 0.2%, settling at 99.21. Gold futures declined by 0.2%, settling at $4,495 per ounce. Elsewhere, Lululemon Athletica shares sank 13% premarket after the athleisure retailer slashed its full-year revenue and profit projections, citing “headwinds.