S&P 500 futures tick lower amid tech slump; Wall Street awaits May jobs report: Live updates

S&P 500 futures fell early on Friday as traders looked ahead to the release of May’s jobs report, while the tech-heavy Nasdaq was poised to open sharply lower as Thursday’s U.S. tech sell-off spread to Asian and European markets.

Futures tied to the broad market index slipped about 0.49%, while Nasdaq 100 futures dipped 1.02%. Futures tied to the Dow Jones Industrial Average were up 36 points, or less than 0.1%.

In Thursday’s after-hours trading session, shares of Lululemon Athletica sank 11% after the athleisure company lowered its full-year earnings and revenue guidance, citing headwinds. The company’s outlook for its current quarter also came below what analysts were expecting.

Shares in Broadcom were almost 2% lower in extended hours, after tumbling 12.5% on Thursday, with Marvell Technology sliding 3.6% and Micron down 3.5% in after-hours trade.

During the day’s regular session, the blue-chip Dow Jones Industrial Average climbed 874.86 points, or 1.73% to a fresh record close. The S&P 500 added 0.41%, while the Nasdaq Composite slipped 0.09%, weighed down by a rotation out of the technology sector.

“A lot of us would prefer a broadening of the market, and when we say that I think it’s no longer broadening away from Mag Seven, it’s really a broadening away from semi-cap equipment and hardware,” said Charles Kantor, senior portfolio manager at Neuberger Wealth, on CNBC’s “Closing Bell: Overtime” on Thursday afternoon. “You had a little bit of that today, but the pipeline of demand for stuff related to building out compute and data centers from now even into 2030 is a powerful force.”

Investors are now looking ahead to the May nonfarm payrolls report, which will be released at 8:30 a.m. ET on Friday morning.

Economists surveyed by Dow Jones expect the latest data to show that just 80,000 jobs were added last month, which would be lower than the average of 150,000 jobs over the prior two months. The consensus also sees the unemployment rate holding steady from April at 4.3%.

On Thursday, President Donald Trump said that he would be “honored” to meet Ayatollah Mojtaba Khamenei, Iran’s Supreme Leader, “if it was to make a deal.” The U.S.-Iran war has dragged on into its fourth month, and the conflict between the two nations has been in a fragile ceasefire.

The S&P 500 is up less than 0.1% on the week. This slight gain puts it on track for its 10th straight positive week in a row, which would mark the longest positive streak for the index since 1985. The 30-stock Dow is poised to end the week up 1%, while the Nasdaq Composite is heading for a loss of 0.5%.

— CNBC’s Jeff Cox and Garrett Downs contributed to this report.