Stock futures were falling on Friday as Wall Street reacted to September's jobs report.
Dow futures sank 261 points, or 0.87%, 29,721. S&P 500 futures were off 1.16%, and Nasdaq 100 futures were down 0.87%.
The benchmark 10-year Treasury was up to 3.89%, while the yield on the policy sensitive 2-year Treasury was up at 4.308%. Bond yields and prices move inversely.
Stocks finished lower Thursday as Wall Street went from a two-day rally to a two-day slump. The Dow Jones Industrial Average finished down 347 points, or 1.15%, to 29,926, while the S&P 500 lost 1.03% and the tech-heavy Nasdaq slipped 0.68%.
Stocks had ticked briefly higher late Wednesday before ending the session in the red and halting a two-day winning streak that marked the start of the quarter.
Nonfarm payrolls increased 263,000 for the month, falling short of economists expectations for 275,000. The unemployment rate was 3.5%, compare with the forecast of 3.7%.
Friday’s payrolls report is the last before the Fed makes its next decision on interest rates, scheduled for Nov. 2.
Chip stocks were under pressure Friday after Advanced Micro Devices (AMD) warned its third-quarter revenue would be lower than anticipated. Nvidia (NVDA) was down 4.5% while Intel (INTC) was down nearly 4%.
Floating higher, however, were shares of pot companies, with Canopy Growth (CGC) and Tilray Brands (TLRY) both closed solidly higher after President Biden announced that he will pardon thousands of people convicted of marijuana possession. Both were off in premarket trading.
Credit Suisse (CSGKF) stock, meantime, was up more than 6% after the Swiss bank said it plans to buy back up to $3 billion in debt.
Credit Suisse stock and bond prices fell in recent weeks amid expectations the bank would raise new shares to fund its restructuring. An online frenzy also sparked concerns about the bank's financial health.
Among other stocks, shares of DraftKings (DKNG) were up more than 4% in premarket on news that the online betting company may be looking to cut a deal with Disney's (DIS) ESPN network.
On the flip side, Levi Strauss (LEVI) shares were down nearly 5% meantime after the jeans-maker lowered its full year forecast, citing the strong dollar and supply chain disruptions.
Also lower were shares of CVS Health (CVS), which were down more than 4% after the company said its largest health insurance plan for Medicare recipients received a lower performance rating from the Federal government program.
