U.S. futures lower ahead of jobs report; Dow Jones down 0.49%

Investing.com - U.S. stock futures pointed to a lower open on Friday, as investors awaited the release of highly anticipated U.S. employment data later in the day, while concerns over the financial situation in the euro zone persisted.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.49% slide, S&P 500 futures signaled a 0.52% loss, while the Nasdaq 100 futures indicated a 0.60% decline.

Investors remained cautious after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending March 30 rose by 28,000 to a seasonally adjusted 385,000, hitting a 16-week high, compared to expectations for an decrease of 7,000 to 350,000.

Jobless claims for the preceding week rose by an unrevised 357,000.

Elsewhere, European Central Bank President Draghi voiced concern over the euro zone’s economic outlook, saying that the recovery in the second half of the year is subject to “downside risks”.

Tech stocks were expected to be active, after F5 Networks lowered its forecast for second-quarter revenue, sending shares diving 17.06% in pre-market trade.

Following the news, Cisco, the world’s largest maker of networking equipment, plummeted 2.23% in early trading, while Juniper Networks sank 4.30%.

Airline companies were also likely to be in focus, amid concerns an outbreak of bird flu in China will hurt airline traffic. As of Friday morning, the death toll from the disease climbed to six in China.

The U.S. Centers for Disease Control and Prevention said on Thursday it was monitoring the new bird flu strain and has started work on a vaccine just in case it is needed.

Among retailers, Hanesbrands jumped 1.77% pre-market, after the apparel maker said late Thursday it will pay a quarterly dividend of 20 cents a share in June, marking the first time it has made a payout to shareholders.

Elsewhere, Walt Disney was slated to be in the spotlight, following reports it expects to begin layoffs at its studio and consumer product divisions within the next two weeks, in the latest cost-reduction step to emerge from a company-wide review.

Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.26%, France’s CAC 40 plunged 1.47%, Germany's DAX retreated 1.71%, while Britain's FTSE 100 plummeted 1.22%.

During the Asian trading session, Japan’s Nikkei 225 Index rallied 1.58%, while markets in Hong Kong and mainland China remained closed for a public holiday.

Later in the day, the U.S. was to release a government report on nonfarm payrolls and the unemployment rate, as well as data on average hourly earnings and the trade balance.