GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. It looks like a now-settled proxy war wasn't Lululemon's only problem. Shares of the retailer are down 10% before the bell after lackluster product launches and negative media attention led the company to lower its full-year outlook. S&P 500 futures are lower this morning after a mixed session on Wall Street. Here are five key things investors need to know to start the trading day:
1. Turning up the heat
Kendia Barrett (R) speaks with Broward Health recruiter, Nelia Zh, during the Mega JobNewsUSA South Florida Job Fair held in the Amerant Bank Arena on April 30, 2026 in Sunrise, Florida. Joe Raedle | Getty Images
May's jobs report, set to be released at 8:30 a.m. ET, will offer the latest look into the health of the job market after a stronger-than-expected start to the year. Economists and investors will particularly have their eye out for signs of whether the "low-hire, low-fire" backdrop is improving. Here's what to know: Economists anticipate the report to show nonfarm payrolls grew by 80,000 jobs last month. That would mark a slowdown from the average of 150,000 seen over the prior two months.
But data released earlier this week offered reason for optimism: Private payrolls and job openings both came in hotter than expected.
JPMorgan's trading desk said the S&P 500 swing by more than 1% depending on this morning's headline number.
swing by more than 1% depending on this morning's headline number. Prediction market traders, meanwhile, expect the report to beat Wall Street forecasts.
We're also keeping an eye on long-term unemployment: The number of Americans who have been jobless for at least 27 weeks has ballooned 55% in a given month this year compared with 2023.
2. The edge of glory
Traders work on the floor of the New York Stock Exchange during morning trading on June 04, 2026 in New York City. Michael M. Santiago | Getty Images
... continue reading