## Market Setup: Jobs Report Friday & Geopolitical Tension
Futures are up this Friday morning as traders brace for the April jobs report and eye developments in the Middle East. As of 8:30 AM ET:
– S&P 500 futures: +0.4%
– Nasdaq 100 futures: +0.6%
– Dow Jones futures: +0.3%
The S&P 500 is on pace for a 1.5% weekly gain despite oil climbing higher overnight following military clashes near the Strait of Hormuz. The April non-farm payrolls report looms as the day’s biggest catalyst.
## Buzz’s Watchlist: Friday, May 8
### BA (Boeing)
**The thesis:** Remember Monday when I flagged Boeing getting congressional attention? Rep. Maria Elvira Salazar disclosed a significant buy at 01.18. We’re sitting right at that level.
**Key levels:**
– Support: 01 (congressional entry zone)
– Resistance: 15 (recent high), 28 (gap fill target)
– Risk: Break below 98 invalidates the setup
### AMGN (Amgen) – Biotech Breakout Watch at 48
Rep. Salazar also bought AMGN at 48.43. Building a base after post-earnings dip.
**Key levels:**
– Support: 45, 40 stop
– Resistance: 60, 75
### CSCO (Cisco) – 8.50 Base Building
Salazar added CSCO at 8.51 on AI infrastructure demand.
**Key levels:**
– Support: 8.50, 7 (50-day MA)
– Resistance: 2, 5
### DIS (Disney) – Into Earnings Friday
Reports after the bell. Range-bound with Parks revenue as bright spot.
**Key levels:**
– Support: 05, 08
– Resistance: 12, 18
## The Bottom Line
Friday’s pre-market has two stories: the jobs report and oil-backed geopolitical risk. Watch congressional levels in BA, AMGN, CSCO for directional bias.
Trade safe, stay nimble.
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⚠️ Disclaimer: This content is for educational and entertainment purposes only. It is not financial advice. Trading involves substantial risk of loss. Past performance does not guarantee future results.