On Friday, U.S. stock futures showed a downward trend as investors digested disappointing earnings reports from well-known tech companies and awaited the publication of important U.S. job market statistics.

The S&P 500 futures were down 36 points or 0.86% at 06:35 ET (11:35 GMT), while the tech-heavy Nasdaq 100 futures were down 195 points or 1.52%. Additionally, the Dow futures contract fell by 122 points, or 0.36%.

The more pessimistic mood contrasts sharply with the session’s close, when the NASDAQ Composite and S&P 500 edged up thanks to the Federal Reserve’s relaxation of its stance on inflation and a pledge from Facebook-owner Meta Platforms (NASDAQ:META) to contain expenses. But the Dow Jones Industrial Average suffered from health care stocks.

Investors were keeping an eye on Alphabet (NASDAQ:GOOGL), the parent company of Google, Apple (NASDAQ:AAPL), and Amazon.com (NASDAQ:AMZN), as shares in all three companies fell after the release of their most recent earnings.

Due to poor iPhone sales and production problems in China, Apple’s fiscal first-quarter results fell short of analyst estimates. At the same time, a decline in online advertising spending negatively impacted Alphabet’s fourth-quarter earnings and revenue. Amazon, however, outperformed revenue forecasts for the fourth quarter, although its crucial cloud business’ top-line performance fell just short of forecasts.

According to Michael Hewson, chief market analyst at CMC Markets U.K., the immediate market response to last night’s statistics “looks depressing overall and could lead to some read across in some chip makers, and other relevant suppliers to the industry.”

But remember that all three firms have experienced significant increases in share prices so far this year; perhaps now is the time for a brief break as we approach the weekend.

The market will pay close attention to the January nonfarm payrolls number later on Friday. Early this week, conflicting statistics suggested some lingering strength in the labour market, prompting worries that strong employment might keep inflation high for longer and affect the Fed’s future interest rates.

The data will be made public by the Labor Department at 8:30 ET. According to analysts, businesses in the largest economy in the world added 185,000 jobs, down from 223,000 in December. Additionally, the jobless rate significantly climbed from 3.5% last month to 3.6% this month.

In other business news, shares of Nordstrom (NYSE:JWN) jumped more than 30% after the Wall Street Journal reported that activist investor Ryan Cohen is amassing a sizable stake in high-end retailer Nordstrom. The newspaper reported that Cohen, who is well-known for his wagers on meme stocks like GameStop Corp. (NYSE:GME), wants to restructure the board of directors and cut expenses.

Elsewhere, U.S. crude futures were 0.20% lower at $75.73 a barrel by 06:35 ET, while the Brent contract was down 0.18% at $82.02 per barrel.

Gold futures dipped by 0.17% to $1,927.45/oz, while the EUR/USD edged up 0.21% to 1.0933.