STOCK MARKET NEWS: Jobs on tap, Tech selloff, Apple, Amazon, Alphabet disappoint

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. 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.