US futures retreat as focus turns to jobs report

The decline of Nvidia and other chip stocks indicates continued weakness in the tech sector, particularly in companies reliant on AI. Given the current market sentiment and expectations of job reports affecting interest rates, Nvidia could face further pressure. There is a potential for a bounce-back if market conditions stabilize and the Fed signals supportive monetary policy, but near-term outlook appears negative as uncertainty persists.

With the trend in technology stocks pulling back, it's likely that related ETFs like XLK (Technology Select Sector SPDR Fund) will also suffer as investors adjust their portfolios. If concerns about the tech sector continue, ETFs heavily weighted in these stocks may trend downward.