The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) showed a slight decline of 0.02%, while the actively traded Invesco QQQ Trust ($QQQ) decreased by 0.2% in Friday's premarket activity, indicating a cautious sentiment as investors prepare for the busy earnings season ahead. In the backdrop, US stock futures exhibited mixed results, with S&P 500 Index futures dropping 0.1%, Dow Jones Industrial Average futures rising 0.1%, and Nasdaq futures retreating 0.3%, showcasing divergent expectations as the market gears up for the trading day. As we approach 8:30 am ET, the market eagerly awaits the release of September's producer price index, which will provide insights into inflation trends.
Later, the University of Michigan's consumer sentiment report is set to be unveiled at 10 am ET, followed by the Baker Hughes oil-and-gas rig count at 1 pm ET. These indicators will be critical in assessing consumer confidence and oil industry activity. On the speaker's agenda, Federal Reserve Chicago President Austan Goolsbee is scheduled to deliver remarks at 9:45 am ET, followed by Dallas Fed President Lorie Logan at 10:45 am ET, and Governor Michelle Bowman at 1:10 pm ET, likely providing further market guidance. In premarket activity, the cryptocurrency market saw Bitcoin increasing by 2.4%, while the ProShares Bitcoin Strategy ETF ($BITO) rose 2.3%, reflecting growing interest in digital assets amidst fluctuating market conditions. **Power Play: Technology Sector** The Technology Select Sector SPDR Fund (XLK) managed a slight increase of 0.02%.
The iShares US Technology ETF ($IYW) and the iShares Expanded Tech Sector ETF ($IGM.US) remained inactive, highlighting a period of consolidation among major tech players. Among semiconductor-focused ETFs, the SPDR S&P Semiconductor ETF ($XSD) did not see any movement, whereas the iShares Semiconductor ETF ($SOXX) gained a marginal 0.01%, indicating measured activity in this crucial sector. Notably, shares of Aehr Test Systems ($AEHR) surged by more than 13% in premarket trading on Friday following the company's report of a fiscal Q1 earnings decline that was smaller than anticipated, raising optimism among investors based on estimates from two analysts in a Capital IQ survey. **Winners and Losers: Sector Performance** In the Industrial sector, the Industrial Select Sector SPDR Fund ($XLI) saw a small decline of 0.2%, while the Vanguard Industrials Index Fund ($VIS) and the iShares US Industrials ETF (IYJ) remained inactive, suggesting a degree of uncertainty in industrial fundamentals.
In contrast, Fastenal ($FAST) stock rose 3.3% before market open after reporting higher net sales for Q3, showcasing strength in this particular area. In the Consumer sector, the Consumer Staples Select Sector SPDR Fund ($XLP) remained flat, with the Vanguard Consumer Staples Fund ($VDC) marginally increasing by 0.03%.
The iShares US Consumer Staples ETF ($IYK) remained inactive, while the Consumer Discretionary Select Sector SPDR Fund ($XLY) saw a decline of 0.9%. The VanEck Retail ETF ($RTH) and the SPDR S&P Retail ETF ($XRT) were also inactive in this segment. Notably, Stellantis ($STLA) shares fell nearly 3% pre-bell following the announcement of Doug Ostermann as its new Chief Financial Officer and CEO Carlos Tavares's planned retirement in early 2026, which may spark further changes in strategic direction. In the Health Care sector, the Health Care Select Sector SPDR Fund ($XLV) registered a flat performance.
Meanwhile, the Vanguard Health Care Index Fund ($VHT), iShares US Healthcare ETF ($IYH), and iShares Biotechnology ETF ($IBB) remained inactive, indicating a steady state within this sector. Immatics ($IMTX) shares increased by 2.3% in premarket trading after the company priced its public offering of approximately 16.3 million ordinary shares at $9.25 per share for gross proceeds around $150 million, suggesting a strong funding position. Turning to the Financial sector, the Financial Select Sector SPDR Fund (XLF) increased by 0.6%.
Direxion Daily Financial Bull 3X Shares ($FAS.US) experienced a gain of 1.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), dipped by 1.4%. Notably, BlackRock ($BLK) shares rose by 1.5% pre-bell on Friday following the release of robust Q3 financial results that surpassed analyst expectations, reinforcing confidence in the firm's performance. In the Energy sector, the iShares US Energy ETF ($IYE) remained inactive, while the Energy Select Sector SPDR Fund ($XLE) declined by 0.2%.
In premarket trading, W&T Offshore ($WTI.US) rose 1.3% after filing a new Form S-3 registration statement with the US Securities and Exchange Commission to sell up to $500 million in mixed securities, reflecting proactive financial management. **Commodities Update** On the commodities front, front-month US West Texas Intermediate crude oil decreased 0.7% to $75.30 per barrel on the New York Mercantile Exchange.
Natural gas prices increased by 0.9% to $2.70 per one million British Thermal Units. The United States Oil Fund (USO) retreated 0.9%, while the United States Natural Gas Fund (UNG) advanced 0.7%. In precious metals, December gold futures advanced 0.7% to reach $2,657.40 per ounce on the Comex, while silver futures gained 0.5%, reaching $31.38 per ounce.
SPDR Gold Shares ($GLD) were up by 0.5%, and iShares Silver Trust ($SLV) increased by 0.1%, suggesting a slight bullish sentiment in the commodities market amidst economic uncertainties..