The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) was down 0.5% and the actively traded Invesco QQQ Trust ($QQQ) retreated 0.9% in Friday's premarket activity after Federal Reserve Chair Jerome Powell stated that the US economy is not sending any signals for the central bank to be in a 'hurry' to lower interest rates. US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures losing 1% before the start of regular trading. US retail sales rose by 0.4% in October, a smaller increase than the 0.3% gain expected in a survey compiled by Bloomberg as of 7:30 am ET and following the previous month's 0.8% increase. The New York Federal Reserve's Empire State manufacturing index rebounded to 31.2 in November after falling to minus 11.9 in October, compared with a flat reading expected in a survey compiled by Bloomberg as of 7:30 am ET. The industrial production report for October is due at 9:15 am ET, followed by Federal Reserve Bank Boston President Susan Collins' speech at 10:30 am ET. The weekly Baker Hughes domestic oil-and-gas rig count is due at 1 pm ET, while New York Fed President John Williams will speak at 1:15 pm ET. In premarket activity, Bitcoin was up by 2.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ($BITO) was 2.6% higher. Power Play: Health Care The Health Care Select Sector SPDR Fund ($XLV) retreated 0.2%.
The Vanguard Health Care Index Fund ($VHT) was down by 0.6%, and the iShares US Healthcare ETF ($IYH) was 0.3% lower. The iShares Biotechnology ETF ($IBB) slipped 0.2%. TFF Pharmaceuticals ($TFFP) shares tumbled 73% before the bell Friday, a day after announcing it terminated its employees and will wind down its operations. Winners and Losers: Financial Financial Select Sector SPDR Fund (XLF) retreated 0.2%.
Direxion Daily Financial Bull 3X Shares ($FAS.US) was 0.6% lower, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ($FAZ) advanced 0.5%. Greenidge Generation Holdings ($GREE) shares surged 57% in recent Friday premarket activity, a day after saying a New York judge overturned the New York State Department of Environmental Conservation's denial of its application for renewal of a Title V Air Permit. Technology Technology Select Sector SPDR Fund (XLK) was down by 0.8%.
The iShares US Technology ETF ($IYW) was 0.4% lower, and the iShares Expanded Tech Sector ETF ($IGM.US) retreated 1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ($XSD) was flat, while the iShares Semiconductor ETF ($SOXX) declined by 1.2%. FuelCell Energy ($FCEL) shares were up 16% before Friday's opening bell after it said it is restructuring operations in the US, Canada, and Germany to help reduce costs by about 15% in the fiscal year 2025 compared with the previous year. Consumer The Consumer Staples Select Sector SPDR Fund ($XLP) was 0.3% lower, while the Vanguard Consumer Staples Fund ($VDC) was up 0.1%.
The iShares US Consumer Staples ETF ($IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ($XLY) was down 0.3%. The VanEck Retail ETF ($RTH) was inactive, while the SPDR S&P Retail ETF ($XRT) declined by 0.6%. Despegar.com ($DESP) shares were up over 11% pre-bell Friday, a day after the company posted higher Q3 adjusted earnings and revenue. Energy The iShares US Energy ETF ($IYE) was down 0.4%, and the Energy Select Sector SPDR Fund ($XLE) was 0.2% lower. PHX Minerals ($PHX.US) shares were up 5.7% before the bell Friday after it stated overnight its board rejected WhiteHawk Energy's takeover proposal through an all-cash transaction of $4 per PHX share. Industrial Industrial Select Sector SPDR Fund ($XLI) declined by 0.5%, while the Vanguard Industrials Index Fund ($VIS) was marginally higher by 0.01%.
The iShares US Industrials ETF (IYJ) was flat. SolarEdge Technologies ($SEDG) shares were down 4% before Friday's opening bell after Morgan Stanley downgraded it to underweight from equal weight and cut its price target to $9 from $23. Commodities Front-month US West Texas Intermediate crude oil slipped 0.1% to reach $68.62 per barrel on the New York Mercantile Exchange.
Natural gas declined by 2.7% to $2.71 per 1 million British Thermal Units. United States Oil Fund (USO) was down by 0.04%, while the United States Natural Gas Fund (UNG) was 1.8% lower. Gold futures for December gained 0.2% at $2,579.10 an ounce on the Comex, while silver futures advanced 0.8% to $30.82 an ounce.
SPDR Gold Shares ($GLD) increased by 0.2%, and iShares Silver Trust ($SLV) was 0.5% higher. $US500 $US30 $SPY $QQQ $XLP $VDC $IYK $XLY $RTH $XRT $XLV $VHT $IYH $IBB $FAS.US $FAZ $XLI $VIS $IYW $IGM.US $XSD $SOXX $IYE $XLE $GLD $SLV $IWM $EEM $EXI $BITO $TFFP $GREE $FCEL $DESP $PHX.US $SEDG.