U.S. stock futures fell early Friday as investors reacted to sweeping new tariffs from President Trump and a disappointing earnings report from Amazon. With markets yet to open, the morning’s losses signal a volatile end to the week amid trade turmoil and looming jobs data.
Stock futures slide ahead of market open
- Dow Jones futures: -0.95%
- S&P 500 futures: -1.02%
- Nasdaq 100 futures: -1.15%
Thursday’s late announcement from the White House outlined a wave of new tariffs on dozens of trading partners, including steep hikes on imports from Canada (35%), India (25%), and Taiwan (20%). Though some implementation timelines were delayed by a week, investors are already bracing for global trade fallout.
Amazon stumbles, Apple shines in premarket moves
Tech sentiment took a hit after Amazon (AMZN) shares dropped more than 8% in premarket trading, following lackluster growth in its AWS cloud division. The miss contrasted with stronger-than-expected results from Apple (AAPL), whose iPhone sales boosted its stock nearly 1%.
Early movers include:
- Microsoft (MSFT): +3.95%
- Meta (META): +10.18%
- Tesla (TSLA): -4.59%
- Nvidia (NVDA): -3.06%
Figma defies volatility with blockbuster IPO
Despite broader market jitters, design software firm Figma (FIG) surged on debut. After a 250% gain Thursday, the stock was up another 8% in premarket Friday, reflecting strong investor demand.
The company raised roughly $1.22 billion, pushing its market cap beyond $19 billion — close to the $20 billion Adobe once offered in a now-abandoned acquisition.
All eyes on July jobs report
Investors are also awaiting the July jobs report, set for release at 8:30 a.m. ET. Economists expect a modest increase of 105,000 jobs, with the unemployment rate rising to 4.2%, according to Bloomberg estimates.
“We’re in a recalibrated labor market,” said ADP economist Nela Richardson. “But it’s still strong enough to support consumer spending — the real test of economic resilience.”
The report could influence the Federal Reserve’s next move, after it opted to hold interest rates steady at its July meeting.
Energy earnings beat expectations
Oil giants Chevron (CVX) and Exxon Mobil (XOM) posted better-than-expected earnings despite falling crude prices:
- Chevron cited record production from its Guyana assets.
- Exxon reported its strongest second-quarter production in over two decades.
The results highlight how production growth helped offset the 11% decline in oil prices this quarter.
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