Futures extend losses after jobs miss

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U.S. stock index futures were lower Friday morning as traders looked to the employment report.

Futures extended losses after the April employment report showed creation of 160,000 jobs, with the unemployment rate at 5 percent and average hourly wages rising 0.3 percent. The labor force participation rate fell to 62.8 percent.

Treasury yields fell, with the 2-year yield below 0.70 percent and the 10-year yield around 1.71 percent, according to FactSet.

The U.S. dollar index briefly extended losses before holding mildly lower. The euro was near $1.142 and the yen at 106.6 yen against the greenback as of 8:43 a.m. ET.

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According to Thomson Reuters, economists forecast 202,000 jobs were added in April. The unemployment rate was expected to be unchanged at 5 percent, while average hourly wages were expected to have grown by 0.3 percent.

Elsewhere on the data front, consumer credit is due at 3:00 p.m.

In oil markets, Brent crude traded about 1 percent lower near $44.50 a barrel, while U.S. crude was off about 0.9 percent to below $44 a barrel.

On the earnings front, Buckeye Partners, Madison Square Garden and Berkshire Hathaway are among companies set to report on Friday.

In Asia, Japan's Nikkei closed 0.25 percent lower on Friday, while in China the Shanghai composite closed 2.82 percent lower.

In Europe, the pan-European Stoxx 600 Index was down nearly 1 percent Friday in early morning trade ET.

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—CNBC's Patti Domm contributed to this report