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Dow futures fall 100 points; oil weighs

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U.S. stock index futures indicated a lower open on Friday morning, following declines overseas on some disappointing data, as oil prices fell.

Futures initially pared losses after the jobs data release before moving towards session lows, with Dow futures off more than 100 points. U.S. crude oil futures were off more than 3 percent just above $37 a barrel as of 9:01 a.m. ET.

"I don't think this is a pivot necessarily on our jobs number. This is a pivot on what's going on away from us," said Art Hogan, chief market strategist at Wunderlich Securities.

Overseas, the Bank of Japan's quarterly "tankan" survey showed the headline index for big manufacturers' sentiment stood at plus 6 in March, missing expectations and down from plus 12 seen three months ago, according to Reuters.

The news sent Japan's Nikkei down 3.55 percent, while the Shanghai Composite in China closed 0.17 percent higher. In Europe, the pan European Stoxx 600 Index was down more than 1.5 percent.

Treasury yields held higher, with the 2-year yield at 0.76 percent and the 10-year yield at 1.77 percent. The U.S. dollar index attempted gains after the jobs report. The index posted a four-day losing streak on Thursday and fell 4.1 percent in the first quarter, its worst quarter since 2010.

The March employment report showed creation of 215,000 jobs, with the unemployment rate edging up to 5.0 percent and average hourly earnings rising seven cents, according to Reuters. The labor force participation rate rose to 63 percent, its highest level since March 2014.

"On balance this is a very strong number. I think it's going to be good news," Hogan said.

However, he noted that other data, including ISM manufacturing and construction spending are due later in the morning. Vehicle sales are also set for release.

205,000 jobs were expected to be have been added in March, according to a survey of economists conducted by Reuters.

— CNBC's Patti Domm contributed to this report