The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Friday's premarket activity, after April personal income rose, while the US PCE price index was also up by 0.3% for a third straight month.
US stock futures were also higher, with S&P 500 Index futures up by 0.3%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures advancing 0.3% before the start of regular trading.
Personal income rose by 0.3% in April following March's 0.5% gain, as expected in a survey conducted by Bloomberg as of 7:45 am ET, while personal consumption expenditures were also up 0.2% after a 0.7% gain in the previous month, below the 0.3% increase expected.
The Chicago PMI posts at 9:45 am ET followed by the Baker Hughes domestic oil-and-gas rig count will be released at 1 pm ET, while Atlanta Fed President Raphael Bostic speaks at 6:15 pm ET at Augusta Technical College's spring commencement.
In premarket action, bitcoin was marginally up by 0.02% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% lower.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced by 0.5%, while the Vanguard Health Care Index Fund (VHT) slipped by 3% and the iShares US Healthcare ETF (IYH) was down by 0.3%. The iShares Biotechnology ETF (IBB) was flat.
Novo Integrated Sciences (NVOS) stock rose 109% premarket, after saying late Thursday it received written confirmation that HSBC Holdings (HSBC) issued a Ready, Willing, and Able for delivery by Swift MT 760, of a standby letter of credit.
Winners and Losers:
Industrial
Industrial Select Sector SPDR Fund (XLI) gained 0.5% and the Vanguard Industrials Index Fund (VIS) was 0.1% higher, while the iShares US Industrials ETF (IYJ) was flat.
BRP's (DOOO) shares fell roughly 4% before the opening bell after reporting lower fiscal Q1 normalized earnings per diluted share and revenue from a year earlier.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was slightly up. The Vanguard Consumer Staples Fund (VDC) was 0.2% higher, while the iShares US Consumer Staples ETF (IYK) advanced 2.1%. The Consumer Discretionary Select Sector SPDR Fund (XLY) was up 0.2%, while the VanEck Retail ETF (RTH) was inactive. The SPDR S&P Retail ETF (XRT) was 1.6% higher.
Ulta Beauty (ULTA) stock traded up nearly 10% in recent Friday premarket activity, a day after it reported higher fiscal Q1 net sales from a year earlier.
Financial
Financial Select Sector SPDR Fund (XLF) slipped 0.02%. Direxion Daily Financial Bull 3X Shares (FAS) retreated 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was flat.
BitFuFu (FUFU) stock was down 3.7% pre-bell Friday after it said it appointed Calla Zhao as its finance chief.
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.2%, while the iShares US Technology ETF (IYW) was 0.2% higher. The iShares Expanded Tech Sector ETF (IGM) slipped by 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) fell by 5%, while the iShares Semiconductor ETF (SOXX) was down by 0.4%.
MongoDB (MDB) stock fell 24% in recent Friday premarket activity after it posted Thursday lower fiscal Q1 non-GAAP net income per diluted share from a year earlier.
Energy
The iShares US Energy ETF (IYE) was flat, while the Energy Select Sector SPDR Fund (XLE) was up by 0.1%.
Clean Energy Fuels (CLNE) stock was 1.3% higher before Friday's opening bell, after agreeing to provide ultra-clean renewable natural gas for 39 of Cemex US' ready-mix and cement bulk trucks in Southern California, the companies said late Thursday.
Commodities
Front-month US West Texas Intermediate crude oil rose 0.5% to $78.45 per barrel on the New York Mercantile Exchange. Natural gas was 1% lower at $2.55 per 1 million British Thermal Units. United States Oil Fund (USO) slipped by 0.1% and the United States Natural Gas Fund (UNG) was down by 0.6%.
Gold futures for August were marginally down by 0.03% at $2,365.90 an ounce on the Comex, while silver futures retreated 0.2% to $31.48 an ounce. SPDR Gold Shares (GLD) advanced 0.7%, and iShares Silver Trust (SLV) gained nearly 2%.
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