The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) experienced a slight decline of 0.2%, while the actively traded Invesco QQQ Trust ($QQQ) saw retreat of 0.3% during Friday's premarket trading, with investors on edge ahead of crucial employment data expected to be released. US stock futures were showing a bearish trend, with S&P 500 Index futures down by 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures losing 0.2% as the opening bell approached.
The employment situation bulletin for December is set to be unveiled at 8:30 am ET, bringing with it market anticipation and speculation, followed by the University of Michigan consumer sentiment bulletin for January scheduled for release at 10 am ET. Additional economic indicators such as the Baker Hughes domestic oil-and-gas rig count will be available at 1 pm ET. In the cryptocurrency sector, Bitcoin experienced a rise of 3.4%, showcasing a resilient performance in the face of turbulent stock market trends.
The ProShares Bitcoin Strategy ETF ($BITO) also enjoyed a boost, climbing by 1.3% in premarket activity. In specific sectors, the Energy category showed promising signs as the iShares US Energy ETF ($IYE) advanced 0.8%, complemented by the Energy Select Sector SPDR Fund ($XLE) which increased by 1.2%.
A significant development came from Constellation Energy's ($CEG) stock, witnessing a remarkable surge of over 12% before the market opened. This spike followed the announcement of the company’s agreement to acquire Calpine in a substantial cash and stock deal, valued at a noteworthy $26.60 billion. In the Health Care sector, the Health Care Select Sector SPDR Fund ($XLV) advanced marginally by 0.01%, with Vanguard Health Care Index Fund ($VHT) gaining 0.3%.
Meanwhile, investors looked on with interest as Inspira Technologies Oxy ($IINN) stock saw an 11% rise premarket, driven by the company’s preparations for potential production ramp-up of its Inspira ART100 device following recent reports of human metapneumovirus in China. Industrial movements showed mixed outcomes as the Industrial Select Sector SPDR Fund ($XLI) experienced a slight retreat of 0.04%, with the Vanguard Industrials Index Fund ($VIS) and the iShares US Industrials ETF (IYJ) remaining dormant in trading activity. Delta Air Lines ($DAL) stocks stood out, marking a gain of over 7% in pre-bell trading, attributed to the company’s impressive fourth-quarter non-GAAP earnings and operating revenues.
Consumers observing the Consumer sector noted a 0.3% increase in the Consumer Staples Select Sector SPDR Fund ($XLP), although the Vanguard Consumer Staples Fund ($VDC) remained inactive in this period. The iShares US Consumer Staples ETF ($IYK) also posted inactivity, while the Consumer Discretionary Select Sector SPDR Fund ($XLY) slightly gained 0.1%.
However, Constellation Brands ($STZ) shares faced a downturn, slipping nearly 2% after disappointing fiscal Q3 non-GAAP earnings and net sales figures. In the Financial sector, the Financial Select Sector SPDR Fund (XLF) receded by 0.3%. Direxion Daily Financial Bull 3X Shares ($FAS.US) faced a drop of nearly 1%, whereas its counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), managed to rise by 1.1%.
UBS Group ($UBS) saw its shares rise by 1.2% following reports from The Wall Street Journal indicating the company is nearing a settlement agreement related to alleged US tax violations by the defunct Credit Suisse. In the realm of technology, the Technology Select Sector SPDR Fund (XLK) saw a minor decline of 0.6%.
Similarly, the iShares US Technology ETF ($IYW) dropped by 0.1%, with the iShares Expanded Tech Sector ETF ($IGM.US) down by 0.3%. Notably, among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) showed slight gains at 0.1%, while the iShares Semiconductor ETF ($SOXX) dipped by 0.5%. Taiwan Semiconductor Manufacturing ($TSM) shares achieved a rise exceeding 1% as premarket responses reflected positively on the company’s reported revenue growth to approximately 278.16 billion Taiwanese dollars ($8.46 billion) in December. Commodities trading indicated a rise in the front-month US West Texas Intermediate crude oil by 3.1%, settling at $76.23 per barrel on the New York Mercantile Exchange.
Additionally, natural gas saw gains of 4.4% reaching $3.86 per million British Thermal Units. The United States Oil Fund (USO) appreciated by 4%, while the United States Natural Gas Fund (UNG) moved up by 4.2%. For precious metals, gold futures for February increased by 0.5% to attain $2,703.60 an ounce on the Comex, and silver futures rose by 0.3% to $31.12 an ounce.
SPDR Gold Shares ($GLD) also gained 0.4%, while the iShares Silver Trust ($SLV) climbed nearly 1% higher..