The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) was also down 0.2% in Friday's premarket activity as investors awaited Philadelphia Federal Reserve Bank President Patrick Harker's views on the latest interest rate cut later in the day.
US stock futures were mixed, with S&P 500 Index futures slipping 0.1%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 0.2% before the start of regular trading.
In addition to Harker's speech at 2 pm ET, the weekly Baker Hughes domestic oil-and-gas rig count data will be released at 1 pm ET.
In premarket action, bitcoin was up by 0.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was flat.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.4%. The Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) retreated 3%. The iShares Biotechnology ETF (IBB) was 0.1% lower.
Tenon Medical (TNON) shares were up 32% before Friday's bell, a day after saying it received three notices of allowances from the US Patent and Trademark Office, titled "Sacroiliac Joint Stabilization Prostheses" and "Systems, Apparatus and Methods for Stabilizing Sacroiliac Joints."
Winners and Losers:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was flat, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was 1.2% higher, and the Consumer Discretionary Select Sector SPDR Fund (XLY) declined 0.2%. The VanEck Retail ETF (RTH) was flat, while the SPDR S&P Retail ETF (XRT) was inactive.
Nike (NKE) shares rose more than 8% pre-bell Friday after it said overnight that Elliott Hill will rejoin the firm as president and chief executive officer, effective Oct. 14.
Industrial
Industrial Select Sector SPDR Fund (XLI) declined 0.1% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.
Arq (ARQ) stock was down over 14% in recent Friday premarket activity after it priced an underwritten public offering of about 4.8 million shares at $5.25 apiece, for gross proceeds of roughly $25 million.
Energy
The iShares US Energy ETF (IYE) was down 0.6%, while the Energy Select Sector SPDR Fund (XLE) was down 0.2%.
Constellation Energy (CEG) stock was up 12% in Friday's premarket activity, after saying it signed a 20-year power purchase agreement with Microsoft (MSFT), enabling the launch of the Crane Clean Energy Center and the restart of Three Mile Island Unit 1, which shut down five years ago.
Financial
Financial Select Sector SPDR Fund (XLF) was down 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) gained 0.5%.
BOK Financial (BOKF) shares were slightly up after Truist Securities upgraded it to buy from hold and raised its price target to $123 from $112.
Technology
Technology Select Sector SPDR Fund (XLK) was down 0.4%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was 0.1% lower. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was flat, while the iShares Semiconductor ETF (SOXX) was down by 0.7%.
Synopsys (SNPS) shares were down 0.2% before the bell Friday, a day after saying it agreed to sell its optical solutions group to Keysight Technologies (KEYS) for undisclosed terms.
Commodities
Front-month US West Texas Intermediate crude oil retreated 0.4% at $71.65 per barrel on the New York Mercantile Exchange. Natural gas was up 1.1% at $2.37 per 1 million British Thermal Units. United States Oil Fund (USO) was 0.4% lower, while the United States Natural Gas Fund (UNG) advanced 1.3%.
Gold futures for December were up 1.1% at $2,643 an ounce on the Comex, while silver futures rose 1% to $31.74 an ounce. SPDR Gold Shares (GLD) gained 1.1%, and iShares Silver Trust (SLV) was 2% higher.
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