The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) saw a slight increase of 0.1%, while the actively traded Invesco QQQ Trust ($QQQ) experienced a minor decline of 0.1% during Friday's premarket activities. This mixed result comes after investors took a step back following a week filled with intense trading.
US stock futures also displayed a mixed trend: S&P 500 Index futures decreased by 0.03%, Dow Jones Industrial Average futures rose by 0.1%, and Nasdaq futures dropped by 0.2% ahead of the regular trading session. Later today, at 10 am ET, November's consumer sentiment report from the University of Michigan will be unveiled, followed by the Baker Hughes domestic oil-and-gas rig count at 1 pm ET. Federal Reserve Governor Michelle Bowman is scheduled to speak at 11 am ET, and St.
Louis Fed President Alberto Musalem will provide remarks at 2:30 pm ET. In premarket trading, bitcoin decreased by 0.5%, while the ProShares Bitcoin Strategy ETF ($BITO) slipped by 0.3%. In the Health Care sector, the Health Care Select Sector SPDR Fund ($XLV) gained 0.1%, the Vanguard Health Care Index Fund ($VHT) remained stable, and the iShares US Healthcare ETF ($IYH) showed no movement.
The iShares Biotechnology ETF ($IBB) saw an increase of 0.2%. Fortrea Holdings ($FTRE) stock surged over 19% in premarket trading after reporting Q3 revenue that met Capital IQ analyst estimates. In the Consumer sector, the Consumer Staples Select Sector SPDR Fund ($XLP) inched up 0.04%, while the Vanguard Consumer Staples Fund ($VDC) rose by 1.8%.
The iShares US Consumer Staples ETF ($IYK) had no movement, and the Consumer Discretionary Select Sector SPDR Fund ($XLY) experienced a slight decline of 0.1%. The VanEck Retail ETF ($RTH) remained inactive, while the SPDR S&P Retail ETF ($XRT) gained 0.3%. Shares of Bloomin' Brands ($BLMN) fell more than 10% pre-bell after the company disclosed lower adjusted earnings and revenue for fiscal Q3, along with a reduced guidance for 2024 adjusted earnings and US comparable restaurant sales. In the Industrial sector, the Industrial Select Sector SPDR Fund ($XLI) rose by 0.3%, whereas the Vanguard Industrials Index Fund ($VIS) and the iShares US Industrials ETF (IYJ) remained inactive. CNH Industrial ($CNH) stock dropped over 10% prior to the opening bell after announcing lower Q3 adjusted earnings and revenue that also failed to meet analysts' expectations. In the Technology sector, the Technology Select Sector SPDR Fund (XLK) saw a slight retreat of 0.04%, with the iShares US Technology ETF ($IYW) also declining by 0.1%.
However, the iShares Expanded Tech Sector ETF ($IGM.US) climbed 0.2%. Among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) was stable, while the iShares Semiconductor ETF ($SOXX) fell by 0.5%. Sony Group ($SONY) shares increased over 7% in recent Friday premarket activity following the company’s report of higher fiscal Q2 earnings and revenue, along with an upward revision of its fiscal 2025 revenue guidance. In the Energy sector, the iShares US Energy ETF ($IYE) remained inactive, while the Energy Select Sector SPDR Fund ($XLE) dipped by 0.1%.
Icahn Enterprises (IEP) stock fell more than 5% before Friday's opening after reporting lower Q3 revenue and reducing its quarterly distribution by half. The Financial Select Sector SPDR Fund (XLF) went up by 0.3%. The Direxion Daily Financial Bull 3X Shares ($FAS.US) also gained 0.3%, whereas its bearish counterpart, the Direxion Daily Financial Bear 3X Shares ($FAZ), dropped by 0.5%. Valley National Bancorp ($VLY) saw its shares decrease over 4% pre-bell Friday after announcing a public offering of 42.8 million common shares at $9.35 each, expected to generate $400 million in gross proceeds. In commodities, front-month US West Texas Intermediate crude oil fell by 1.7% to $71.14 per barrel on the New York Mercantile Exchange.
Natural gas increased by 1.2% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 1.1%, while the United States Natural Gas Fund (UNG) rose by 0.7%. December gold futures decreased by 0.3%, reaching $2,696.70 an ounce on the Comex, while silver futures retreated nearly 1% to $31.56 an ounce.
SPDR Gold Shares ($GLD) experienced a 0.5% decline, and iShares Silver Trust ($SLV) fell by 1.3%..