The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was 0.03% lower and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Friday's premarket activity amid technology gains and the Federal Reserve's rate hike.
US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures gaining 0.4% before the start of regular trading.
State unemployment and leading indicators data for August are due to be released at 10 am ET.
Federal Reserve Vice Chair for Supervision Michelle Bowman and Kansas City Fed President Jeffrey Schmid are slated to speak Friday.
In premarket activity, bitcoin was up by 1.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 2.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) advanced 0.5%.
Power Play:
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.2%, the Vanguard Health Care Index Fund (VHT) was 0.2% lower, while the iShares US Healthcare ETF (IYH) gained 1%. The iShares Biotechnology ETF (IBB) was down 0.1%.
Xenon Pharmaceuticals (XENE) shares were down 22% after the company paused enrollment of new patients in studies for major depressive disorder and bipolar depression.
Winners and Losers:
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.2%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.
CAVA (CAVA) shares were up more than 3% pre-bell after the company said its board authorized a plan for the repurchase of up to $100 million of its outstanding common stock.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) advanced 0.1%, the iShares US Technology ETF (IYW) was 0.8% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.6%, while the iShares Semiconductor ETF (SOXX) rose by 0.2%.
Alphabet (GOOG, GOOGL) shares were up 2% in premarket activity after the company said its Waymo unit intends to open its fully autonomous ride-hailing service to riders in Singapore in 2028.
Financial
The State Street Financial Select Sector SPDR ETF (XLF) retreated 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.3% higher.
HSBC (HSBC) shares were down 1% after the Australian reported that National Australia Bank is considering the acquisition of HSBC's Australian retail deposit business.
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.01%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.
Waste Connections (WCN) stock was up more than 1% before the opening bell after UBS upgraded it to buy from neutral.
Energy
The iShares US Energy ETF (IYE) was down 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.6% lower.
BP (BP) stock was down more than 1% after Osaka Gas said BP Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse.
Commodities
Front-month US West Texas Intermediate crude oil gained by 0.2% to reach $102.12 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% at $2.91 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.2%, while the United States Natural Gas Fund (UNG) was 0.4% higher.
Gold futures for November retreated by 0.04% to $4,397.80 an ounce on the Comex. Silver futures rose 1.1% to $66.83 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 2%.