Greenfire Announces Date For Rights Plan Hearing With The Alberta Securities Commission And Resignation Of Two Directors

Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.5% and the Energy Select Sector SPDR Fund (XLE) climbing 1.9%.

The Philadelphia Oil Service Sector Index gained 2.4%, and the Dow Jones US Utilities Index was advancing 1.2%.

Front-month West Texas Intermediate crude oil rose 0.8% to $68.24 a barrel, and the global benchmark Brent crude contract was up 0.5% at $71.97 a barrel. Henry Hub natural gas futures jumped 5.5% to $2.90 per 1 million BTU.

In corporate news, Ovintiv shares climbed 3.5%. The company disclosed regulatory approvals late Thursday to renew its share buyback program to repurchase 10% of its public float as of Sept. 20.

Duke Energy said it is continuing to restore power to Florida customers following outages due to Hurricane Helene. Duke shares were rising 0.9%.

Greenfire Resources said Friday it objects to a request made by its selling shareholders and Waterous Energy Fund-managed partnerships asking a Canadian regulator to prevent the company from implementing a rights plan it announced last week. Greenfire shares fell 1%.

Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising about 1%.

The Philadelphia Oil Service Sector Index climbed 2%, and the Dow Jones US Utilities Index was advancing 1%.

Front-month West Texas Intermediate crude oil was rising 0.7% to $68.17 a barrel while the global benchmark Brent crude contract was up 0.5% to $71.96 a barrel. Henry Hub natural gas futures jumped 5.7% to $2.91 per 1 million BTU.

In corporate news, Duke Energy said it's continuing to restore power to Florida customers following outages due to Hurricane Helene. Duke shares were up nearly 1%.

Greenfire Resources said Friday it objects to a request made by its selling shareholders and Waterous Energy Fund-managed partnerships asking a Canadian regulator to prevent the company from implementing a rights plan it announced last week. Greenfire shares were down 0.3%.

Scorpio Tankers shares rose almost 1% after the company said its President Robert Bugbee bought 2,343 call option contracts on the company's stock for $1.5 million.

The broad market exchange-traded fund SPDR S&P 500 ETF Trust was up 0.2% and the actively traded Invesco QQQ Trust was 0.4% higher in Tuesday's premarket activity, ahead of the US Federal Reserve's two-day monetary policy-setting meeting starting today.

US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.4% before the start of regular trading.

The August retail sales bulletin will be released at 8:30 am ET, followed by the August industrial production release at 9:15 am ET.

The business inventories July report and the Housing Market Index for September are due at 10 am ET.

In premarket activity, bitcoin was up by 2.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF was 2.3% higher.

Power Play:

Industrial

Industrial Select Sector SPDR Fund , the Vanguard Industrials Index Fund , and the iShares US Industrials ETF were inactive.

Draganfly stock was up 5% before the opening bell after the company said an oil and gas company had selected Draganfly and Nightingale Security to develop an automated drone system for infrastructure monitoring.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund advanced 0.1%. The Vanguard Health Care Index Fund was inactive while the iShares US Healthcare ETF slipped 0.2%. The iShares Biotechnology ETF was inactive.

Nuvalent shares were down nearly 2% premarket after the company said late Monday it priced an underwritten public offering of 5 million Class A common shares at $100 apiece for expected gross proceeds of $500 million.

Energy

The iShares US Energy ETF was inactive, while the Energy Select Sector SPDR Fund was up by 0.1%.

Greenfire Resources shares were up 3.3% before Tuesday's opening bell after Waterous Energy Fund Management said Monday that it agreed to acquire a more than 43% stake in Greenfire from Allard Services, Annapurna and Modro Holdings for 327.8 million Canadian dollars ($241.1 million).

Technology

Technology Select Sector SPDR Fund advanced 0.8%, and the iShares US Technology ETF was flat, while the iShares Expanded Tech Sector ETF was up 1.9%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF was inactive, while the iShares Semiconductor ETF rose by 1%.

Microsoft shares were up 1.8% in recent Tuesday premarket activity after the company said late Monday the board increased its quarterly dividend by 10% to $0.83 per share and approved a new stock repurchase plan for up to $60 billion.

Consumer

The Consumer Staples Select Sector SPDR Fund was down 0.4%, while the Vanguard Consumer Staples Fund slipped 0.2%. The iShares US Consumer Staples ETF was flat. The Consumer Discretionary Select Sector SPDR Fund and the VanEck Retail ETF were inactive, while the SPDR S&P Retail ETF was 0.5% higher.

Polestar shares were up 1.7% pre-bell after the company said it has regained compliance with Nasdaq's minimum bid price rule for continued listing on the stock exchange.

Financial

Financial Select Sector SPDR Fund advanced 0.1%. Direxion Daily Financial Bull 3X Shares was up 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares was down 0.1%.

Upstart Holdings shares were up 1.4% pre-bell after the company priced a private placement to eligible purchasers of $375 million of 2% convertible senior notes due 2029.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.1% to reach $70.17 per barrel on the New York Mercantile Exchange. Natural gas was up 0.2% at $2.38 per 1 million British Thermal Units. United States Oil Fund retreated by 0.1%, while the United States Natural Gas Fund advanced by 0.7%.

Gold futures for December were down 0.1% at $2,605.20 an ounce on the Comex, while silver futures slipped 0.1% to reach $31.10 an ounce. SPDR Gold Shares declined by 0.2%, and iShares Silver Trust was 0.1% higher.