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Tech, Persian Gulf Views Pressure Wall Street Pre-Bell; Asia Off, Europe Up

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Wall Street futures largely pointed moderately lower pre-bell Friday, as traders locked into a risk-off mood on rich tech-sector valuations and on lengthening Persian Gulf uncertainties.

In the futures, the S&P 500 fell 0.4% and the Nasdaq declined 1%, although the Dow Jones was up 0.1%.

Investors also await the May national jobs report from Washington at 8:30 am ET, sure to be plumbed for clues to the strength of the US employment market in the face of higher energy bills.

Asian exchanges traded lower overnight, led by a 5.5% divot on Seoul's KOSPI index, as tech shares weakened.

European bourses edged higher midday on the continent.

Lululemon Athletica (LULU) traded down 13% pre-bell after the apparel maker reported fiscal Q1 results and trimmed guidance late Thursday.

On the economic calendar, in addition to the jobs report, is the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm ET, followed by the Federal Reserve's consumer credit report for April at 3 pm.

In premarket action, Bitcoin traded at $62,550, West Texas Intermediate crude oil traded off 0.4% at $92.64, and 10-year US Treasuries offered 4.47%. Spot gold commanded $4,464 an ounce.

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