Stock Futures Buoyed by Steady Jobs Report

Stock futures are taking cues from a jobs report that for now assuaged concerns of a struggling U.S. economy. May's nonfarm payrolls rose 139,000, higher than estimates of a 125,000 jump, while the unemployment rate was steady at 4.2%. Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 (NDX) futures are all higher in response, brushing off turmoil between the Trump Administration and former ally Elon Musk.

After the two traded barbs on social media all day yesterday, White House officials say President Donald Trump is "not interested" in a call with the Tesla (TSLA) CEO. Barring a massive pivot into red territory, all three major indexes are eyeing second-straight weekly wins. 

Continue reading for more on today's market, including:

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than almost 3 million call contracts and over 1.5 put contracts traded on Thursday. The single-session equity put/call ratio rose to 0.63, while the 21-day moving average stayed at 0.59.
2. Broadcom Inc (NASDAQ:AVGO) stock is 2.3% lower before the bell, even though the chipmaker's fiscal second-quarter earnings and revenue exceeded estimates. Instead, cashflow issues and a possibly overbought status are weighing on shares. Nevertheless, eight brokerages hiked their price targets, the highest coming from J.P. Morgan Securities to $325 from $250. AVGO is up 55% this quarter alone.
3. Lululemon Athletica Inc (NASDAQ:LULU) stock is down 19% ahead of the open, after the athleisure company's fiscal second-quarter and full-year guidance fell short of expectations, with tariff pressures the culprit. At least 12 brokerages trimmed their price targets in response, the steepest coming from BMO to $250 from $302. Lululemon stock is down 13% in 2025.
4. The shares of Samsara Inc (NASDAQ:IOT) are off by 12.3% in electronic trading. While the software company's fiscal second-quarter revenue beat expectations, the company predicted slower revenue growth going forward. IOT has been trading in a tight range since May, but is poised to cede its year-to-date breakeven level today.
5. Inflation data is the story of next week.

All Eyes on China as Trade Talks Simmer

Asian markets were mixed on Friday, as investors weighed yesterday’s phone call between President Trump and Chinese President Xi Jinping to discuss trade. Both leaders agreed to have officials meet soon to continue negotiations. Japan’s Nikkei rose 0.5%, China’s Shanghai Composite settled slightly above breakeven with a 0.04% gain, and Hong Kong’s Hang Seng shed 0.5%. Elsewhere, South Korea’s Kospi was closed for a holiday.

European markets are mostly flat, after the U.S. Treasury Department added Germany, Ireland, and Switzerland to a list of trading partners “whose currency practices and macroeconomic policies merit close attention.” This comes after the Trump administration called Switzerland a currency manipulator in 2020, prompting the Swiss National Bank to reject that notion in a statement today. London’s FTSE 100 and France’s CAC 40 are both trading near breakeven, while the German DAX is down 0.2%.