Dow futures are down 130 points; the Jobs Report is coming up.
![](https://asiantrade.tv/wp-content/uploads/2022/06/futures.jpg)
Dow futures went down on Friday morning as investors waited for the latest jobs report and thought about the latest warning from a big company that it would lay off workers.
Dow futures were down 131 points, or 0.4%, at 7:00 am ET (10:00 GMT). The S&P 500 futures fell 0.55 percent to 4154, while the Nasdaq 100 futures fell 0.9 percent.This comes after a big day for stocks on Thursday, when all of the major indices went up by more than 1.3%.
The latest jobs report, which comes out at 8:30 am ET, is the most important thing to keep an eye on (1230 GMT). The U.S. economy is expected to add 325K jobs, which is less than the previous month but still a lot. With the Fed still set on continuing to raise interest rates by 50 basis points, it’s hard to see how the jobs report could change that plan, and it’s not yet clear how the markets will react.
Elon Musk, the CEO of Tesla, made a lot of news in the business world when reports came out about an email he sent to Tesla executives in which he asked for cuts of about 10 percent because he felt “super bad” about the economy. Before the market opened, Tesla (NASDAQ:TSLA) traded 4% lower. Apple’s (NASDAQ:AAPL) shares also went down by 1.9 percent before the market opened. This was because there were reports that the growth of app stores could be a negative for the current quarter. After Piper Sandler gave Micron (NASDAQ:MU) a lower rating, the company’s stock went down by 3.5 percent.
Okta (NASDAQ: OKTA), which traded up as much as 17% after an earnings report that beat expectations across the board, and Lululemon (NASDAQ: LULU), which also had a strong earnings report, were among the early traders who made money.
At 10:00 am ET, the purchasing manager index (PMI) numbers are also released. The economy is expected to keep growing, but at a slower rate than in previous months. The European PMIs released this morning showed the same pattern.
As of 7:15 a.m. ET, crude oil WTI futures were down 0.7% and Brent oil was also down 0.7%. The announcement of an increase in production by OPEC and other countries hasn’t done much to ease the demand and supply pressures in the energy market.
At the same time, Bitcoin fell below $30,000 for the second time in 24 hours, falling 1.15 percent. This comes after a short risk-on rally and as news of layoffs and hiring freezes spreads through the crypto industry.
Gold was just a little bit down, trading at $1870/oz, and the EUR/USD was also just a little bit down, trading at $1.074.