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NEW YORK (CNNMoney) -- U.S. stock futures point to a lower open after Chinese manufacturing fell sharply and eurozone's unemployment rate held at 11%.
The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were lower early Friday morning. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
Two manufacturing reports out of China Friday morning showed that the sector fell sharply in May, fueling investors concerns that the country may be headed for a hard landing.
As global economic growth has slowed in the last year, exports to Europe -- China's largest foreign market -- have taken a hit as the debt-ridden region teeters on the brink of recession.
Employers in Europe slashed 110,000 jobs across the eurozone in April, as the unemployment rate hit 11% -- the highest level since the creation of the common currency.
While Europe remains a grave concern, investors head into Friday focused on the U.S., where the government will release its all-important monthly jobs report.
Analysts surveyed by CNNMoney expect that the U.S. economy added 150,000 jobs in May, including 12,000 government cuts. The unemployment rate is expected to stay at 8.1%.
Aside from the jobs data, new reports also on tap for Friday include personal income, personal spending, construction spending and manufacturing.
U.S. stocks finished in the red Thursday, ending a difficult month on a weak note. The Dow and S&P 500 dropped more than 6% in May, while the Nasdaq shed more than 7%.
World markets: European stocks fell in morning trading. Britain's FTSE 100 (UKX) shed 0.5%, while the DAX (DAX) in Germany tumbled almost 2% and France's CAC 40 (CAC40) dropped 1.3%.
Worries about Spain's possible inability to fund bank bailouts continue to build. The yield on 10-year Spanish debt soared to 6.6% Wednesday before retreating slightly Thursday.
Asian markets ended mixed. The Shanghai Composite (SHCOMP) closed slightly above breakeven, while the Hang Seng (HSI) in Hong Kong slid 0.4% and Japan's Nikkei (N225) fell 1.2%.
Economy: Personal income and personal spending for April are expected to have increased by 0.3%, according to a survey of analysts by Briefing.com.
The May installment of the ISM Manufacturing Index is expected to come in at 54.0, down from 54.8 last month. April construction spending is expected to have increased by 0.5%.
Companies: Shares of Facebook (FB) hit a fresh low of $26.83 Thursday before bouncing back, ending the day up 5% at $29.60.
Shares of food producer Sara Lee (SLE, Fortune 500) jumped more than 4% in after-hours trading Thursday, after the company said it was spinning off its international coffee and tea business, which will pay a special dividend to existing Sara Lee shareholders. Sara Lee also announced a 1-for-5 reverse stock split.
Currencies and commodities: The dollar rose against the euro and British pound, but fell versus the Japanese yen.
Oil for July delivery slid $1.52 to $85.01 a barrel.
Gold futures for August delivery dropped $9.50 to $1,554.70 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose Friday, pushing the yield further down to 1.54% from 1.58% late Thursday.
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