The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Friday's premarket activity as investors eyed a third interest rate cut by the US Federal Reserve before the year ends.
US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.8% before the start of regular trading.
The US import prices unexpectedly rose in November as export prices held steady, according to the bulletin released at 8:30 am ET. The weekly Baker Hughes oil-and-gas rig count is due at 1 pm ET.
In premarket activity, bitcoin was up by 0.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% higher.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.1%. The Vanguard Health Care Index Fund (VHT) slipped 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.
Repare Therapeutics (RPTX) shares were down 37% in recent Friday premarket activity, a day after the company reported results from a phase 1 trial of cancer drugs lunresertib and camonsertib, which achieved a 25.9% overall response rate in endometrial cancer and 37.5% in platinum-resistant ovarian cancer in the study.
Winners and Losers:
Industrial
Industrial Select Sector SPDR Fund (XLI) advanced 0.5%. The Vanguard Industrials Index Fund (VIS) gained 0.6% and the iShares US Industrials ETF (IYJ) was inactive.
Loop Industries (LOOP) stock was 30% higher before Friday's bell after the company said overnight it secured 10 million euros ($10.5 million) through a convertible preferred security financing with Reed Societe Generale Group, an investment firm majority-owned by Societe Generale.
Technology
Technology Select Sector SPDR Fund (XLK) advanced 1.1%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) gained 2.1%.
Broadcom (AVGO) shares were up 17% before the bell Friday after the company reported overnight higher fiscal Q4 non-GAAP net income and revenue.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was flat, while the Vanguard Consumer Staples Fund (VDC) and the iShares US Consumer Staples ETF (IYK) were inactive. The Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.2%, while the VanEck Retail ETF (RTH) was inactive and the SPDR S&P Retail ETF (XRT) was flat.
RH (RH) stock was 13% higher before Friday's opening bell, a day after the company swung to fiscal Q3 adjusted earnings and posted higher revenue for the quarter.
Financial
Financial Select Sector SPDR Fund (XLF) was 0.4% higher. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% lower.
Washington Trust Bancorp (WASH) shares were down 2.2% before Friday's opening bell after the company said late Thursday it priced an upsized underwritten public offering of about 1.9 million shares at $34 apiece.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.5%.
CVR Energy (CVI) stock was 0.3% lower before the bell Friday after the company said late Thursday its subsidiaries priced a proposed $325 million senior secured term loan B due 2027.
Commodities
Front-month US West Texas Intermediate crude oil advanced 0.8% to $70.55 per barrel on the New York Mercantile Exchange. Natural gas retreated 1.1% to $3.42 per 1 million British Thermal Units. United States Oil Fund (USO) gained 0.5%, while the United States Natural Gas Fund (UNG) was 1.9% lower.
Gold futures for February declined by 0.7% to $2,691 an ounce on the Comex, while silver futures decreased by 1% to $31.32 an ounce. SPDR Gold Shares (GLD) retreated by 0.2%, while the iShares Silver Trust (SLV) was 0.5% lower.
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