May jobs report, Quantinuum's IPO, a record-setting season on Broadway and more in Morning Squawk

In the latest financial updates, Lululemon faces challenges as its shares drop 10% prior to market opening. This decline follows disappointing product launches and adverse media coverage, prompting the company to revise its full-year outlook downward. As the trading day begins, S&P 500 futures are showing a downward trend after a mixed session on Wall Street. Investors are keenly anticipating the release of May's jobs report at 8:30 a.m. ET, which will provide crucial insights into the job market's health following a surprisingly strong start to the year. The focus will be on whether the current 'low-hire, low-fire' environment is showing signs of improvement. Yesterday, the Dow Jones Industrial Average achieved a remarkable milestone, climbing over 800 points to reach an all-time high. In contrast, the Nasdaq Composite saw a decline as investors pivoted from technology stocks to more traditional sectors like retail and insurance. Semiconductor stocks, notably Broadcom, experienced a setback after reporting disappointing earnings, marking one of their worst trading days since early 2025. Additionally, Bitcoin is poised for its worst week since February, adding to the uncertainty in riskier asset classes. In IPO news, Quantinuum, a quantum computing firm, made its debut on the Nasdaq, ending its first day of trading with a market valuation of $15.7 billion. CEO Rajeeb Hazra emphasized the growing necessity for quantum computing resources, despite the technology still being in its nascent stages. The company caters to clients across various sectors, including pharmaceuticals and finance. The IPO landscape remains vibrant, with SpaceX set to begin trading next week and OpenAI preparing to file a confidential prospectus in the coming weeks. In other news, a case of the flesh-eating New World screwworm was confirmed in a calf in Texas, marking the first instance in the U.S. since 2017. Federal and state officials are mobilizing efforts to control and eradicate this invasive species, which poses a threat to livestock. On Broadway, the 2025-2026 season achieved a record-breaking $1.9 billion in ticket sales, indicating that consumers continue to invest in experiences despite economic pressures. Ticket prices have also seen a 1.7% increase from the previous year, reflecting a shift toward celebrity-driven productions. The upcoming Tony Awards are expected to further influence ticket sales for winning shows.