Exchange-Traded Funds, Equity Futures Edge Lower Pre-Bell Friday Ahead of Business Activity Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust was down 0.1% and the actively traded Invesco QQQ Trust slipped 0.2% in Friday's premarket activity, ahead of business activity data due later in the day.

US stock futures were also lower, with S&P 500 Index futures retreating 0.1%, Dow Jones Industrial Average futures slipping 0.02%, and Nasdaq futures losing 0.2% before the start of regular trading.

The flash Composite Purchasing Managers' Index for November will be released at 9:45 am ET, followed by the University of Michigan's November consumer sentiment bulletin at 10 am ET.

The weekly Baker Hughes domestic oil-and-gas rig count will be released at 1 pm ET.

In premarket activity, bitcoin was up by 0.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF was 0.6% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund advanced 0.1%. The Vanguard Health Care Index Fund and the iShares US Healthcare ETF were inactive. The iShares Biotechnology ETF declined marginally by 0.02%.

Modular Medical stock was down 11% premarket after the company said late Thursday it priced its public offering of around 5.5 million shares at $1.50 apiece.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund was flat. Direxion Daily Financial Bull 3X Shares was up 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares was flat.

Abacus Life shares were down 5% pre-bell Friday after the company said late Thursday that it priced an underwritten public offering of 12.5 million common shares at $8 apiece.

Technology

Technology Select Sector SPDR Fund retreated 0.2%, and the iShares US Technology ETF was inactive, while the iShares Expanded Tech Sector ETF gained by 0.03%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF was inactive, while the iShares Semiconductor ETF declined 0.1%.

StoneCo shares were down 4% in recent Friday premarket activity after the company said late Thursday it authorized the repurchase of up to 2 billion Brazilian reais ($343.9 million) in outstanding Class A common shares.

Consumer

The Consumer Staples Select Sector SPDR Fund was marginally down by 0.04%, while the Vanguard Consumer Staples Fund was inactive. The iShares US Consumer Staples ETF was inactive, and the Consumer Discretionary Select Sector SPDR Fund gained 0.2%. The VanEck Retail ETF was inactive, while the SPDR S&P Retail ETF advanced 0.2%.

Tapestry shares were up 3.2% pre-bell after the company said it signed accelerated share repurchase deals with Bank of America (BAC) and Morgan Stanley (MS) to buy back $2 billion of its common shares.

Industrial

Industrial Select Sector SPDR Fund retreated marginally by 0.01% while the Vanguard Industrials Index Fund and the iShares US Industrials ETF (IYJ) were inactive.

EHang Holdings stock was up 2.3% before the opening bell after the company said its board approved a share repurchase program of up to $30 million of its American depositary shares or ordinary shares over the next 12 months.

Energy

The iShares US Energy ETF was inactive, while the Energy Select Sector SPDR Fund was down by 0.2%.

Equinor stock was down 1.6% before Friday's opening bell after the company said it is reducing its renewable energy unit's staff by 20%, the equivalent of nearly 250 full-time jobs.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.7% to $69.58 per barrel on the New York Mercantile Exchange. Natural gas fell 2.6% to $3.25 per 1 million British Thermal Units. United States Oil Fund lost 0.7%, while the United States Natural Gas Fund was 2.3% lower.

Gold futures for February were up nearly 1% at $2,724.70 an ounce on the Comex, while silver futures advanced 1.3% to $31.78 an ounce. SPDR Gold Shares gained 1.2%, and iShares Silver Trust was 1.9% higher.