Friday's premarket session is shaping up as a classic split-screen market: strong economic data, a Dow at records, but tech stocks under real pressure.

The May jobs report blew past expectations, with nonfarm payrolls rising 172,000 against a consensus of 80,000–105,000. The unemployment rate held at 4.3%. For day traders, the immediate read is clear: the labor market is still hot, Treasury yields are climbing, and the case for a near-term Fed rate cut just got weaker. That dynamic drags on growth and tech stocks while lifting value and cyclicals.

Nasdaq 100 futures are down roughly 1% as the regular session approaches, led by a broad chip sell-off. Broadcom (AVGO) is off 12.6%, Micron (MU) down 7.7%. The Dow, far less exposed to tech, notched a record close of 51,561.93 on Thursday and is holding relatively steady.

The standout trade: META puts

Options trader @ultrawavetrader flagged a notable bearish bet on Meta Platforms. On Thursday, the account reported buying 450 contracts of the META 590 Put at roughly $1.60 per contract — a clear directional wager just below where the stock was trading, with Meta's "Conversations 2026" event on the horizon.

Lululemon cratering on guidance cut

Lululemon (LULU) is the most eye-catching premarket mover, plunging about 12% toward an eight-year low. Q1 results were mixed — revenue of $2.47 billion and EPS of $1.69 both barely beat — but the full-year outlook was a mess. Management slashed 2026 revenue guidance to $11.0–$11.15 billion and EPS to $10.95–$11.15, well below prior ranges. The company cited disappointing product launches, a sales slowdown in the Americas, and negative media coverage.

Space stocks keep flying

Redwire (RDW) is surging 15% premarket on fresh deal news, adding to a strong 2026 run. @thestockwhale continues to highlight RDW alongside Rocket Lab (RKLB) and AST SpaceMobile (ASTS) as the top space names to buy on dips. RDW's record backlog of $498 million in Q1 supports the narrative.

The shekel paradox

In a corner of the market that doesn't get daily attention but matters for Israel-focused traders: the Israeli shekel (ILS) is trading near 2.87 per dollar — a 30-year high — despite a multi-front war, a wide fiscal deficit, and tech layoffs. @ProTrader7777 posted on what he called the "shekel paradox 2026," questioning how the currency keeps strengthening against every conventional logic. Analysts point to capital inflows into Israeli tech, institutional USD rebalancing, and broad dollar weakness.

The bottom line

The market is opening with competing forces. A strong labor report validates the economy but pushes rate cuts further out. Day traders are circling Lululemon for potential dip-buying, riding space stock momentum, and watching the options flow on META and semis for directional cues. The yield story is the undercurrent driving the action today — and it's likely to stay the dominant narrative through the session.