The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1% while the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Friday's premarket activity amid a focus on the upcoming jobs report.
US stock futures were also mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures gaining 0.01% before the start of regular trading.
The employment situation, or jobs, report is due at 8.30 am ET, followed by the wholesale inventories bulletin for April at 10 am ET. The weekly Baker Hughes domestic oil-and-gas rig count will be released at 1 pm ET. The April consumer credit report from the Federal Reserve posts at 3 pm ET.
Federal Reserve Governor Lisa Cook speaks at noon.
In premarket action, bitcoin was up by 1.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.4% higher.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.01%. The Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was up 0.1%.
Geron (GERN) shares were up more than 31% premarket after the company said it received approval from the US Food and Drug Administration for its drug Rytelo as a treatment of adult patients with lower-risk myelodysplastic syndrome, a type of leukemia.
Winners and Losers:
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) slipped marginally by 0.02%.
NGL Energy Partners (NGL) shares were down 7% before Friday's opening bell after the company reported a wider fiscal Q4 loss late Thursday and lower revenue.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP), the Vanguard Consumer Staples Fund (VDC), the iShares US Consumer Staples ETF (IYK), the Consumer Discretionary Select Sector SPDR Fund (XLY), and the VanEck Retail ETF (RTH) were all inactive. The SPDR S&P Retail ETF (XRT) was down 0.1%.
GameStop (GME) shares traded down more than 7% pre-bell after the company reported a narrowed fiscal Q1 adjusted loss and lower revenue.
Industrial
Industrial Select Sector SPDR Fund (XLI) advanced 0.2% and the Vanguard Industrials Index Fund (VIS) was flat, while the iShares US Industrials ETF (IYJ) was inactive.
Quanex Building Products (NX) shares rose 6% before the opening bell after the company reported overnight that its adjusted earnings grew more than forecast during Q2 and reiterated its fiscal 2024 net sales guidance.
Technology
Technology Select Sector SPDR Fund (XLK) gained 0.1%, while the iShares US Technology ETF (IYW) and the iShares Expanded Tech Sector ETF (IGM) were inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.
Samsara (IOT) shares fell more than 6% in recent Friday premarket activity after Truist Securities cut its price target for the company to $35 from $38 while maintaining a hold rating. Samsara reported late Thursday that it swung to fiscal Q1 non-GAAP net income on higher revenue.
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) slipped 0.02%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was flat.
Brown & Brown (BRO) stock was down 1.1% pre-bell Friday after the company acquired the assets of McNamara Co., a Minnesota-based insurance solutions provider.
Commodities
Front-month US West Texas Intermediate crude oil advanced 0.5% to $75.94 per barrel on the New York Mercantile Exchange. Natural gas was 1.1% higher at $2.85 per 1 million British Thermal Units. United States Oil Fund (USO) gained 0.7%, while the United States Natural Gas Fund (UNG) rose 1.1%.
Gold futures for August retreated 1.7% to $2,351.20 an ounce on the Comex, while silver futures fell 3% to $30.42 an ounce. SPDR Gold Shares (GLD) lost 1.6%, and iShares Silver Trust (SLV) was 2.7% lower.
Comments