In the world of financial markets, the SPDR S&P 500 ETF Trust ($SPY) noted a gain of 0.3% in Friday's premarket action, while the Invesco QQQ Trust ($QQQ) saw a slight increase of 0.1%. This pre-market uptick comes just ahead of the release of significant economic data that is pivotal for investors and analysts alike. Additionally, US stock futures displayed positive momentum, with S&P 500 Index futures climbing 0.3%, Dow Jones Industrial Average futures rising 0.4%, and Nasdaq futures adding 0.2%, indicating optimism before the commencement of the regular trading session. Crucial reports scheduled for release at 8:30 am ET include the January personal income and outlays data, the international trade in goods bulletin, along with retail and wholesale inventory figures. Moreover, at 9:45 am ET, the Chicago PMI will be published, providing further insights into economic conditions.
Following this, the Baker Hughes domestic oil-and-gas rig count will post results at 1 pm ET, a critical metric for the energy sector. The day will also feature a talk by Chicago Federal Reserve President Austan Goolsbee at 10:15 pm ET, which investors will monitor closely for clues about future monetary policy direction. In the cryptocurrency space, Bitcoin experienced a downturn, dropping by 3.8%, while the ProShares Bitcoin Strategy ETF ($BITO) mirrored this decline, showing a fall of 3.8% in premarket trading. **Sector Highlights:** *Health Care Sector* The Health Care Select Sector SPDR Fund ($XLV) registered a modest increase of 0.2%.
Meanwhile, the Vanguard Health Care Index Fund ($VHT) also advanced by 0.2%, contrasting the iShares US Healthcare ETF ($IYH), which remained flat. Notably, the iShares Biotechnology ETF ($IBB) exhibited inactivity. Apellis Pharmaceuticals ($APLS) saw its stock surge by more than 8% in the premarket following a report revealing a narrower Q4 net loss coupled with higher revenues, stirring investor interest. *Winners and Losers in Financials* The Financial Select Sector SPDR Fund (XLF) gained 0.7%.
The Direxion Daily Financial Bull 3X Shares ($FAS.US) increased 1.9%, while its bearish counterpart, the Direxion Daily Financial Bear 3X Shares ($FAZ), experienced a drop of 1.7%. Shares of TeraWulf ($WULF) fell 4% ahead of the market opening after the company disclosed a wider-than-anticipated loss for 2024. *Energy Sector Summary* The iShares US Energy ETF ($IYE) was inactive, with the Energy Select Sector SPDR Fund ($XLE) showing no change in its price action. In a positive note, NextDecade ($NEXT) saw its stock increase by 3.9% pre-bell after announcing plans to enhance capacity at its Rio Grande liquefied natural gas facility in Texas, extending beyond trains 1 through 5. *Consumer Sector Overview* The Consumer Staples Select Sector SPDR Fund ($XLP) rose by 0.4%, alongside a 1.4% gain in the Vanguard Consumer Staples Fund ($VDC).
However, the iShares US Consumer Staples ETF ($IYK) dipped by 0.6%, while the Consumer Discretionary Select Sector SPDR Fund ($XLY) edged up by 0.2%. The VanEck Retail ETF ($RTH) and SPDR S&P Retail ETF ($XRT) remained inactive. Polestar ($PSNY) experienced a decline of 3.6% pre-bell following news that it secured a 12-month term facility totaling up to $450 million, in addition to renewing its 480-million-euro ($499.3 million) green trade finance facility. *Technology Sector Insight* The Technology Select Sector SPDR Fund (XLK) saw a slight retreat of 0.1%, along with a corresponding decrease in the iShares US Technology ETF ($IYW), which was down by 0.1%.
However, the iShares Expanded Tech Sector ETF ($IGM.US) managed to record an uptick of 0.2%. Among semiconductor-focused ETFs, the SPDR S&P Semiconductor ETF ($XSD) gained 0.7%, while the iShares Semiconductor ETF ($SOXX) rose by 0.1%. In the tech industry, HP ($HPQ) shares fell nearly 2.7% during Friday's premarket after the company announced its intention to implement workforce reductions ranging between 1,000 and 2,000 employees as part of its ongoing restructuring efforts. *Industrial Sector Review* The Industrial Select Sector SPDR Fund ($XLI) advanced 0.6%, while the Vanguard Industrials Index Fund ($VIS) slightly declined by 0.1%.
The iShares US Industrials ETF (IYJ) recorded a gain of 0.6%. However, Chart Industries ($GTLS) saw a pre-opening drop of 1.5% following an announcement of lower than expected Q4 adjusted earnings and revenues. *Commodities Market Trends* West Texas Intermediate crude oil for front-month delivery fell 1.5% to settle at $69.33 per barrel on the New York Mercantile Exchange.
Natural gas prices decreased by 1.2%, priced at $3.89 per million British Thermal Units. The United States Oil Fund (USO) suffered a decline of 1%, and the United States Natural Gas Fund (UNG) faced a 1.2% drop. Gold futures for April dropped by 0.9%, closing at $2,870.70 an ounce on the Comex, while silver futures retreated by 1.5%, settling at $31.62 an ounce.
SPDR Gold Shares ($GLD) experienced a decline of 0.6%, while the iShares Silver Trust ($SLV) was down by 0.5%..