Stock futures slip ahead of jobs report with Wall Street's nine week winning streak in jeopardy: Live updates

Stock futures slipped early Friday ahead of a key jobs report, as Wall Street tries to shake off a sluggish start to January. Futures tied to the had ticked down 60 points, or about 0.16%, by 4:30 a.m. ET. slipped 0.16%, and fell 0.22%. The moves come after the and for their fourth and fifth straight negative session, respectively, on Thursday.

The Dow closed marginally higher on the day but is still down for the week. The three major averages are all on track to break nine week winning streaks, with the Nasdaq Composite suffering the biggest loss for the week at 3.3%. One factor weighing on the market is the cooling off of large cap tech stocks like , which has been downgraded by two research shops this week.

Amy Kong, partner at wealth management company Corient, said her firm is taking a breather from buying the large tech names, several of which make up its top holdings. "We are pausing on any new dollars going into this group of stocks. In general, the market after this great burst of optimism last quarter, is now sitting at a price to earnings ratio of 20 times this year's earnings," Kong said on " ." "It is a little bit high from an absolute standpoint, a little bit high from a historical standpoint, and so we need to see earnings grow into this multiple." A key driver of the market on Friday could be the , which is due out before the bell.

Economists polled by Dow Jones project that job growth slowed to 170,000 last month. A surprise in either direction could hurt stocks, as many investors are expecting that the economy can continue to grow but at a slower pace that will allow the Federal Reserve to cut rates. futures were 0.16% down by 4:30 a.m.

ET. slipped 0.16%, and fell 0.22%. It comes as in the red and most logged weekly losses. Philippine Inflation in December cooled at a faster pace than the month before, according . Consumer prices rose 3.9% in December, lower than the 4.1% increase in the prior month. It was also the slowest pace of price increases since since February 2022, and the the third straight easing in CPI.

Inflation is still, however, higher than the Bangko Sentral ng Pilipinas' target range of 2% 4%. "The downtrend in the overall inflation in December 2023 was primarily brought about by the lower year on year growth in the index of housing, water, electricity, gas and other fuels at 1.5 percent in December 2023 from 2.5 percent in the previous month," according to the official release.

A showed on Friday that the contraction in Japan's private sector activity was over. The au Jibun Bank Japan composite PMI for December came in at 50, rising from 49.6 in the prior month to signal stabilization in Japan's private sector output. A PMI reading above 50 signifies expansion, while numbers below that show contraction.

December saw higher services sector growth, but manufacturing activity continued to slow. The au Jibun Bank Japan services PMI was at 51.5 in December, up from 50.8 in November. The expansion was the second weakest recorded in 2023. "A faster rise in new business was a key factor in driving business activity growth higher, as firms cited increased customer numbers," the survey said.

Japan's Nikkei 225 index edged 0.3% higher on Friday. Shares of rose 6% in after hours trading as investors continued to cheer the fitness company's . The collaboration includes a new fitness hub on the social media app, with content created by Peloton instructors. The move builds on a gain of nearly 14% during Thursday's regular trading session.

U.S. stock futures ticked higher on Thursday evening. Futures linked to the S&P 500 gained 0.1%, as did futures tied to the Nasdaq 100. Dow Jones Industrial Average futures added 53 points, or about 0.1%. The three major averages are all on pace for weekly losses. — Here's where the major averages stand for the week with one session left:.