May jobs report, Quantinuum's IPO, a record-setting season on Broadway and more in Morning Squawk
Summarize this article with:
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Happy Friday. It looks like a now-settled proxy war wasn't Lululemon's only problem. Shares of the retailer are down 10% before the bell after lackluster product launches and negative media attention led the company to lower its full-year outlook.S&P 500 futures are lower this morning after a mixed session on Wall Street.Here are five key things investors need to know to start the trading day:May's jobs report, set to be released at 8:30 a.m. ET, will offer the latest look into the health of the job market after a stronger-than-expected start to the year. Economists and investors will particularly have their eye out for signs of whether the "low-hire, low-fire" backdrop is improving.Here's what to know:The blue-chip Dow Jones Industrial Average climbed more than 800 points to a new all-time high yesterday. But the Nasdaq Composite pulled back as traders shifted away from tech, instead turning their attention to old-economy industries such as insurance and retail.Chip stocks followed Broadcom into the red, as the semiconductor company recorded its worst day since early 2025 following a disappointing earnings report. Meanwhile, Bitcoin — another risk-on trade — is on track for its worst week since February. Friday's action will determine whether the S&P 500 can notch its 10th straight winning week, what would be a first going back to 1985. Follow live market updates here. Shares of Quantinuum ended their debut on the Nasdaq little changed yesterday, putting the quantum computing company's market value at $15.7 billion.Quantinuum CEO Rajeeb Hazra told CNBC yesterday that while quantum adoption is in early stages, the "need for these kinds of computing resources is absolutely a given." The Colorado-based firm's customers include pharmaceutical, finance and government entities. As CNBC's Annie Palmer and Samantha Subin note, Quantinuum's debut comes at a busy time for the IPO calendar. SpaceX is expected to begin trading on the Nasdaq next week, while OpenAI is readying to file its confidential prospectus sometime in the coming weeks.CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.Subscribe here to get access today.A flesh-eating screwworm was detected this week in a calf in Texas, the first known case of the fly in the U.S. since 2017.The New World screwworm's larvae can damage livestock by burrowing into the flesh of living animals, according to the Agriculture Department. Officials at the federal and state level are working to contain and eradicate the fly.Biotech stocks Zoetis and Elanco Animal Health both rose in yesterday's session following confirmation of the Texas case. Options markets for the names also heated up.The 2025-2026 Broadway season saw a record $1.9 billion in ticket sales, a sign consumers are still willing to shell out for experiences despite inflationary pressures.There's another trend at play, too: The average ticket price increased 1.7% from the prior year. As CNBC's Brandon Gomez reports, the jump underscores the shift from traditional musicals to celebrity-led plays.This Sunday's Tony Awards could also lead to a boost in ticket sales for the winning shows.Here are some stories you might have missed this week:— CNBC's Jeff Cox, Fred Imbert, Ananya Chetia, Hugh Leask, Tobias Burns, Tanaya Macheel, Annie Palmer, Samantha Subin, Oliver Renick, Justina Lee and Brandon Gomez contributed to this report.CJ Haddad assisted in the production of this newsletter. Josephine Rozzelle edited this edition.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2026 Versant Media, LLC.
All Rights Reserved. A Versant Media Company. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Data also provided by