Technology earnings sent stocks higher on Thursday and another round of companies from that sector will give those gains back on Friday.
U.S. equity futures suggest a decline on the tech-heavy Nasdaq of 1.5% when trading begins.
Amazon.com shares are down 5% in premarket trading after the company announced that income declined from a year ago.
Alphabet shares are more than 4% lower in premarket trading after the company reported lower-than-expected quarterly revenue.
Apple shares are trading 3% lower in premarket trading after the company reported sales and profits that missed Wall Street expectations.
One bright spot is Nordstrom. Shares of the department store are jumping 30% in premarket trading following reports that billionaire Ryan Cohen has taken a sizable stake in the chain.
The major oil benchmarks are heading for a second straight week of losses.
U.S. West Texas Intermediate crude futures traded around $75.00.
Brent crude futures traded around $82.00 a barrel.
January’s employment report will be released this morning before the opening bell.
Economists surveyed by Refinitiv say the U.S. economy likely added 185,000 new nonfarm jobs. That’s down from a stronger-than-expected tally of 223,000 in December.
In Asia, Japan’s benchmark Nikkei 225 added 0.4%, Hong Kong’s Hang Seng slipped 1.4% and China’s Shanghai Composite dropped 0.7%.
On Thursday, the S&P 500 rallied 1.5% to 4,179.76 a day after hitting its best level since August. The Nasdaq composite soared 3.3% to 12,200.82, while the Dow Jones Industrial Average slipped 0.1% to 34,053.94.
Meta helped lead the way with a 23.3% leap after it reported better revenue for the latest quarter than analysts expected and said it expects to spend less this year than earlier forecast.