Stock futures moved lower Friday after a pullback in the market’s biggest technology names led to a losing session for U.S. equities — and put the major averages on pace for a losing week. Futures tied to the Dow Jones Industrial Average shed 106 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures each fell 0.3%. Nvidia shares were down nearly 1% in premarket, set to add to their 7% weekly loss. Fellow leading artificial intelligence player Oracle fell around 1% and was similarly on track for 7% decline on the week. Palantir Technologies, down 12% on the week, and Broadcom, off by 4% this week, were also lower in early trading. Key AI leaders lost steam on Thursday, with Nvidia, Advanced Micro Devices, Tesla and Microsoft posting significant declines that weighed on the broader market. The drop in stocks was also exacerbated by data reflecting job cuts for October hit the highest level for the month in more than two decades, making 2025 the worst year for layoffs since 2009. Major U.S. stock averages closed lower across the board in the previous session, with the tech-heavy Nasdaq Composite notably dropping 1.9% and the 30-stock Dow closing lower by almost 400 points. The three benchmark indices are each in the red this week, with losses accumulating on-and-off since Tuesday when major AI names declined on fears about elevated tech sector valuations — which have also contributed to a highly concentrated market. The S&P 500 is down 1.8% week to date, while the 30-stock Dow Jones Industrial Average and Nasdaq have lost nearly 1.4% and 2.8% during the period, respectively. To be sure, some market participants remain hopeful that an end to the lengthy U.S. government shutdown and a potential December interest rate cut from the Federal Reserve could alleviate the pain in U.S. stocks. Investors are also monitoring the Supreme Court’s skepticism about the legality of President Donald Trump’s far-reaching tariffs and how third-quarter corporate earnings results are progressing. “There’s still hope for a year-end rally once the government shutdown ends and the tariff situation is resolved. We are still two weeks from the very important Nvidia earnings, and strength there might be the catalyst to reaffirm the AI narrative. If that is followed by a December Fed cut, we may still go out on a high at year’s end,” Louis Navellier, founder and chief investment officer at Navellier & Associates, said. “Corrections with these levels of gains are normal and to be expected, not something to panic over.” The Bureau of Labor Statistics normally would release the nonfarm payrolls report Friday. For the second month in a row, however, it is unable to do so due to the record-breaking U.S. government shutdown. Economists surveyed by Dow Jones had been expecting the report to show a decline of 60,000 jobs and an increase in the unemployment rate to 4.5%. The Senate is expected to vote Friday on advancing a House-passed stopgap funding measure. Senate Majority Leader John Thune has said, “My hopes and expectations are always that we’re going to have enough Democrats to actually proceed, but I don’t know. We’ll see.” This comes as the longest-ever federal funding lapse has already led to flight stoppages, with Transportation Secretary Sean Duffy saying Wednesday that he will be cutting flights by 10% at 40 major airports. Air traffic controllers have been working without pay during the ongoing shutdown. U.S. Treasury yields were higher on Friday as investors continued to face an economic data blackout amid the government shutdown. At 5:12 a.m. ET, the 10-year Treasury yield was more than 1 basis points higher at 4.108%, while the 2-year note yield also added 1 basis point reaching 3.576%. The 30-year bond yield rose 1 basis point to 4.704%. Asia-Pacific markets fell Friday, tracking Wall Street declines on persistent concerns over lofty valuations in artificial intelligence stocks. Japan’s benchmark Nikkei 225 index tumbled 1.19% to close at 50,276.37. The Topix index ended nearly at 3,298.85. South Korea’s Kospi fell 1.81% to 3,953.76 in volatile trading, while the small-cap Kosdaq lost 2.38% to 876.81. Australia’s S&P/ASX 200 fell 0.66% to settle at 8,769.7. Hong Kong’s Hang Seng Index fell 0.92% to end at 26,241.83, while the mainland’s CSI 300 lost 0.31% to 4,678.79. Oil prices rose on Friday but remained on track for a second consecutive weekly loss after three days of declines on worries about excess supply and slowing U.S. demand. Brent crude futures rose 60 cents, or 1%, to $63.98 a barrel by 0904 GMT. U.S. West Texas Intermediate crude was up 61 cents, or 1%, at $60.04. Both benchmarks are poised to register weekly declines of more than 1.5% as leading global producers raise output. “The market continues to weigh a rising oil surplus against mixed macro,” said SEB analyst Ole Hvalbye. An unexpected U.S. inventory build of 5.2 million barrels reignited oversupply fears this week, said IG Markets analyst Tony Sycamore. Gold rose on Friday as expectations for further interest rate cuts from the Federal Reserve and lingering concerns over the U.S. economic outlook amid a prolonged government shutdown buoyed demand. Spot gold was up 0.8% at $4,010.72 per ounce, as of 0925 GMT. U.S. gold futures for December delivery gained 0.7% to $4,019.50 per ounce. “The bull run is still in place,” said independent analyst Ross Norman. “The underlying themes attached to gold price strength remain very much in place, which is to say central bank gold buying and rate cut prospects”.