NEW YORK (CNNMoney.com) - A January job report that fanned worries about inflation dealt investor sentiment a blow Friday morning.

Stock futures retreated, pointing to a lower start for Wall Street, a day after the market sank on worries about upward pressure on wages.

The Labor Department reported a net gain of 193,000 jobs in January, below forecasts for an addition of 250,000 jobs. (Full story.)

But the number of new jobs was still solid and the unemployment rate fell to 4.7 percent, the lowest since 2001. Economists surveyed by Briefing.com had expected the unemployment rate to remain unchanged at 4.9 percent.

The news is the latest pointing to tightness in the labor market, which could lead to a pickup in wage growth, and higher inflation. (Full story).

For a look at unemployment state by state, click here.

A number of other economic numbers are due after the market opens Friday: an update on consumer confidence from the University of Michigan, a reading on the service sector, and December factory orders. All three are forecast to weaken.

After the close Thursday, Amazon.com (Research) became the second Internet bellwether to deliver disappointing results, following the earnings miss by Google Tuesday night. Shares of Amazon tumbled 9.5 percent in European trading early Friday.

Stocks also faced pressure from a rebound in oil prices after Thursday's sharp drop on reduced risks of sanctions against Iran over its nuclear program.

The March light crude futures contract rose 8 cents to $64.76 a barrel in electronic trading, off their highs overnight, while the March contract for Brent crude added 14 cents to $63.02.

Treasury prices fell, lifting the yield on the benchmark 10-year note to 4.61 percent, the highest in 2-1/2 months, from 4.56 percent late Thursday. Bond prices and yields move in opposite directions.

The dollar rose against he euro and the yen.

Major markets in Asia closed mostly lower Friday, on concerns about further interest rate hikes in the United States.

Major European markets rebounded after briefly turning lower on concerns that reports of a missing Egyptian passenger ship with more than 1,400 people aboard in the Red Sea could be due to a terrorist attack.

"The first reaction to headlines like this most times is fear," said Peter Cardillo, chief market strategist SW Bach, referring to the passenger ship.

In corporate news, Electronics Arts (Research), the No. 1 video game maker, reported sharply reduced earnings that fell short of recently lowered estimates.

The company blamed consumers delaying purchases of new games due to shortages of the Microsoft (Research) Xbox 360 game console during the holidays and anticipation of a new PlayStation 3 from Sony (Research).

ConAgra (Research) said late Thursday it plans to sell its Butterball, Armour meat brands, units which have combined annual sales of $1.9 billion.

For a more detailed look at the markets before the open, click here.