US Stocks Rise Ahead of Key Employment Reports
10 months ago

The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) was up 0.5%, while the actively traded Invesco QQQ Trust ($QQQ) increased 0.6% in Friday's premarket activity, ahead of the closely-watched monthly US jobs report. US stock futures were also higher, with S&P 500 Index futures gaining 0.4%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures climbing 0.5% before regular trading commenced. October's employment situation bulletin is slated for 8:30 am ET, followed by the S&P Global US PMI manufacturing final report for October at 9:45 am ET. Dallas Federal Reserve President Lorie Logan speaks at 9:45 am ET. The ISM manufacturing index final report for October and the construction spending for September are set to be released at 10 am ET. The weekly Baker Hughes oil-and-gas domestic rig count will be issued at 1 pm ET. In premarket action, Bitcoin rose by 0.2%, and the cryptocurrency fund ProShares Bitcoin Strategy ETF ($BITO) was slightly up by 0.02%. Power Play: Health Care The Health Care Select Sector SPDR Fund ($XLV) advanced 0.5%.

The Vanguard Health Care Index Fund ($VHT) was up 0.1%, while the iShares US Healthcare ETF ($IYH) remained inactive. The iShares Biotechnology ETF ($IBB) was flat. Pediatrix Medical ($MD) stock surged 8.2% in premarket trading after announcing higher Q3 adjusted earnings and net revenue. Winners and Losers: Consumer The Consumer Staples Select Sector SPDR Fund ($XLP) was up 0.2%, while the Vanguard Consumer Staples Fund ($VDC) saw no activity.

The iShares US Consumer Staples ETF ($IYK) was also inactive, and the Consumer Discretionary Select Sector SPDR Fund ($XLY) gained 1.5%. The VanEck Retail ETF ($RTH) rose by 1.3%, whereas the SPDR S&P Retail ETF ($XRT) was inactive. Magna International ($MGA) shares increased nearly 4% before the bell, despite reporting lower Q3 adjusted earnings and sales. Financial The Financial Select Sector SPDR Fund (XLF) advanced 0.3%.

Direxion Daily Financial Bull 3X Shares ($FAS.US) rose 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ($FAZ) fell by 0.3%. Nomura ($NMR) shares gained 2.5% before the bell on Friday after reporting higher fiscal Q2 net income and revenue. Industrial The Industrial Select Sector SPDR Fund ($XLI) rose 0.1%, while the Vanguard Industrials Index Fund ($VIS) and the iShares US Industrials ETF (IYJ) were inactive. Boeing Company ($BA) stock climbed 2.3% before trading commenced after the International Association of Machinists and Aerospace Workers announced that the airplane manufacturer reached a tentative agreement with union leaders representing 33,000 striking workers over wage disputes. Energy The iShares US Energy ETF ($IYE) remained inactive, while the Energy Select Sector SPDR Fund ($XLE) increased by 1%. Chevron ($CVX) stock climbed 2.1% before Friday's opening bell after reporting forecast-beating Q3 adjusted earnings and revenue. Technology The Technology Select Sector SPDR Fund (XLK) advanced 0.3%, and the iShares US Technology ETF ($IYW) increased 0.6%.

The iShares Expanded Tech Sector ETF ($IGM.US) remained inactive. Among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) was inactive, while the iShares Semiconductor ETF ($SOXX) gained 0.9%. Apple ($AAPL) shares fell 1.8% in recent premarket activity after the company released a tepid fiscal Q1 guidance and reported that its fiscal Q4 net income was affected by a $10.2 billion income tax charge due to a European court order from September. Commodities Front-month US West Texas Intermediate crude oil rose 1.9% to $70.56 per barrel at the New York Mercantile Exchange.

Natural gas gained 0.1% to $2.71 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 0.1%, while the United States Natural Gas Fund (UNG) decreased by 0.8%. Gold futures for December advanced 0.5% to $2,762.60 an ounce on the Comex, while silver futures gained 0.5% to $32.95 an ounce.

SPDR Gold Shares ($GLD) rose by 0.3%, and iShares Silver Trust ($SLV) was up 0.4%..

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