Stock Market Today: Futures Point Lower Ahead of May Jobs Report; Tech Stocks Drop Further

Stock futures in the U.S. declined Friday ahead of the May jobs report, with tech stocks dropping further, while oil prices and Bitcoin also fell. The Nasdaq 100 and S&P 500 futures were down 0.9% and 0.4%, respectively, as investors awaited data on job growth and unemployment." "article": "U.S. stock futures fell Friday morning as traders anticipated the May jobs report, with tech stocks leading declines for a second consecutive day. Nasdaq 100 futures dropped 0.9%, while S&P 500 futures were down 0.4%, reducing the likelihood of the S&P 500 achieving its 10th straight weekly gain. Dow Jones Industrial Average futures rose slightly by 0.2%." "AI-related stocks continued their downward trend, with Broadcom (AVGO) down 1.5% premarket after a 13% drop the previous day. Other tech giants, including Nvidia (NVDA), Marvell Technology (MRVL), Micron Technology (MU), and Intel (INTC), also declined between 1.5% and 3%." "The May jobs report, scheduled for release at 8:30 a.m. ET, is the focal point for investors. April’s report showed 115,000 jobs added, exceeding expectations, and economists anticipate 80,000 new positions in May. The unemployment rate is projected to remain steady at 4.3%." "Commodities and cryptocurrencies also experienced declines. West Texas Intermediate crude oil fell 0.5% to $92.60 a barrel, while Bitcoin dropped to $61,100, its lowest level since early February. Lululemon Athletica (LULU) shares plunged 12% premarket after cutting its revenue and profit forecasts due to market challenges.