08:30 AM EDT, 06/28/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Friday's premarket activity, ahead of a key inflation report due later in the day.

US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.04%, and Nasdaq futures gaining 0.4% before the start of regular trading.

The May personal consumption expenditures (PCE) price index will be posted at 8:30 am ET.

In premarket action, bitcoin advanced 0.7% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was 0.4% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) was down nearly 5%. The Vanguard Health Care Index Fund ( VHT ) was down 0.1% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF ( IBB ) was inactive.

Carisma Therapeutics (CARM) stock rose more than 39% premarket after the company said late Thursday that it nominated an in vivo CAR-M targeting Glypican-3 as the first development candidate under its collaboration with Moderna (MRNA).

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.5% and the Vanguard Industrials Index Fund ( VIS ) was inactive, while the iShares US Industrials ETF ( IYJ ) was inactive.

Ocean Power Technologies ( OPTT ) shares gained 27% before the opening bell after the company said late Thursday it signed an Original Equipment Manufacturer agreement with Teledyne Marine, a Teledyne Technologies ( TDY ) unit providing maritime technology.

Technology

Technology Select Sector SPDR Fund ( XLK ) gained 0.5%, and the iShares US Technology ETF ( IYW ) was 0.9% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) advanced 0.3%, while the iShares Semiconductor ETF ( SOXX ) rose by 0.9%.

Infinera ( INFN ) stock was up nearly 20% in recent Friday premarket activity after Nokia (NOK) agreed to acquire Infinera ( INFN ) in a transaction valuing the company at $6.65 per share, or an enterprise value of $2.3 billion. Nokia was lower by 0.8%.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was flat, while the Vanguard Consumer Staples Fund (VDC) was 0.8% lower. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost nearly 4%. The VanEck Retail ETF ( RTH ) was inactive, as was the SPDR S&P Retail ETF ( XRT ) .

Nike ( NKE ) traded down nearly 15% pre-bell after reporting soft Q4 revenue and guidance, late Thursday.

Financial

Financial Select Sector SPDR Fund ( XLF ) gained 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 1.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.1% lower.

CleanSpark ( CLSK ) shares were up nearly 2% pre-bell Friday, a day after the company said it signed a definitive merger agreement to acquire GRIID Infrastructure (GRDI) in an all-stock transaction valued at $155 million. Shares of GRIID added to the previous day's losses with a more than 7% decline before the opening bell.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.8%.

Dynagas LNG Partners LP ( DLNG ) shares slipped 1% before the opening bell even after the company reported higher Q1 financial results.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.5% to $82.14 per barrel on the New York Mercantile Exchange. Natural gas was 1.7% higher at $2.731 per 1 million British Thermal Units. United States Oil Fund ( USO ) gained 0.6%, while the United States Natural Gas Fund ( UNG ) also rose 1.8%.

Gold futures for August gained 0.4% to $2,345.60 an ounce on the Comex, while silver futures advanced 1.4% to $29.67 an ounce. SPDR Gold Shares ( GLD ) rose 0.4%, and iShares Silver Trust ( SLV ) was 1.3% higher.