US stocks fell on Friday as investors reacted to the possible threat of more tariffs while digesting a jump in consumer expectations for inflation, and the monthly jobs report. The markets took a leg lower after a report from Reuters said President Trump told Republican lawmakers that he plans to announce reciprocal tariffs on American imports as early as Friday.

L'Oreal shares fell 4% as the French cosmetics giant reported slower-than-forecast fourth-quarter sales. Porsche stock fell 5% as the 911 sports-car maker said it would take €800 million in restructuring costs this year. Amazon.com shares fell 3% after the online giant's first-quarter earnings and sales forecast came up short of expectations.

U.S. stock market futures rose in early action Thursday, possibly setting up for a third day of gains with major indexes within touching distances of record highs. Dow Jones Industrial Average futures rose 66 points,