"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
U.S. stock index futures pointed to a lower open Friday after the May jobs report showed creation of 38,000 jobs, well below expectations.
Futures had pointed to a flat to slightly higher open ahead of the report and turned to trade slightly lower after the report. Dow futures were last trading about 60 points lower.
The U.S. dollar index reversed to trade more than 0.8 percent lower.
Treasury yields fell, with the 2-year yield last near 0.8 percent and the 10-year yield around 1.74 percent.
Headline unemployment was 4.7 percent. The labor force participation rate was 62.6 percent. Average hourly earnings rose 0.2 percent.
The Commerce Department says the trade deficit increased 5.3 percent in April to $37.4 billion, up from an imbalance of $35.5 billion in March, according to the Associated Press. Exports increased 1.5 percent to $182.8 billion but imports rose faster, increasing 2.1 percent to $220.2 billion.
In other economic news, ISM non-manufacturing data and factory orders are set to be released at 10:00 a.m.
In an interview with CNBC before the jobs data release, Chicago Fed President Charles Evans said that the timing of a rate hike was "not really that important."
"Two rate hikes in 2016, that's my own call for that, if the data continue to be in line with my outlook, that's a slow and gradual increase this year," said Evans, an alternate member of the Federal Open Market Committee.
"Timing's not really that important, you mentioned possibly two summer hikes, that would be a little bit more than I'd say is … priced in to the dots certainly and the market expectations," Evans added.
"Timing's not really that critical for my viewpoint, as long as by the end of this year we're at just a little under 1 percent," Evans added.
Fed Governor Lael Brainard is set to give a speech on economic outlook and monetary policy at 12:30 p.m. ET.
Oil traded lower, with U.S. crude futures just below $49 a barrel and brent near $49.80 a barrel.
The pan European Stoxx 600 Index was up 0.6 percent on Friday.
— CNBC's Patti Domm contributed to this report