U.S. stock futures leaned lower Friday on concern over possible export restrictions on Nvidia, ahead of key data on the jobs market. Dow Jones Industrial Average futures fell 41 points, or 0.1%, to 42837. S&P 500 futures dropped 17 points, or 0.3%, to 5942.

Surging bond yields have pulled the Nasdaq into negative territory for the month heading into today's December jobs report.

Stock index futures reversed course and turned red on Friday, as investors braced for the key December jobs report.  S&P 500 futures (SPX) -0.1%, Nasdaq 100 futures (US100:IND) -0.1% and Dow futures (INDU) -0.

In addition, inflation remains slightly above the Federal Reserve's long-term goal of 2%. If inflation were to remain at that level or, even worse, climb, the Fed may need to shift gears and either halt its interest rate cuts or reverse them altogether and raise rates.

Over the past century, the S&P 500 has tended to see weaker returns during the first year of a new administration.

The S&P 500's return since Election Day has fallen to just around 0.5%. If that holds through Inauguration Day on Jan. 20, it will mark the worst performance for the broad index between an election and inauguration since Barack Obama came into the White House in 2009.