08:28 AM EDT, 10/25/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Friday's premarket activity as investors' risk appetite recovers amid continuing earnings releases.

US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.3% before the start of regular trading.

The durable goods orders bulletin for September will be released at 8:30 am ET, followed by the University of Michigan's consumer sentiment report for October at 10 am ET.

Federal Reserve Boston President Susan Collins speaks at 11 am ET.

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

In premarket activity, bitcoin was down by 0.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% lower.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.2%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was 1.5% higher.

Capri Holdings ( CPRI ) shares were down more than 46% pre-bell after a US federal court granted the Federal Trade Commission's request to block Tapestry's (TPR) planned acquisition of Capri. Tapestry shares were up more than 15%.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.6% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Joby Aviation ( JOBY ) stock was down more than 15% before the opening bell after the company said it priced an underwritten public offering of 40 million common shares at $5.05 apiece for expected gross proceeds of $202 million.

Technology

Technology Select Sector SPDR Fund ( XLK ) gained 0.3%, and the iShares US Technology ETF ( IYW ) was inactive, while the iShares Expanded Tech Sector ETF ( IGM ) was marginally up by 0.01%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) increased by 0.3%, while the iShares Semiconductor ETF ( SOXX ) rose by 0.5%.

Western Digital ( WDC ) stock was up more than 10% in recent premarket activity after Goldman Sachs and Morgan Stanley raised their price targets for the company following Western's swing to fiscal Q1 non-GAAP earnings on higher revenue.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.2%. The Vanguard Health Care Index Fund ( VHT ) was flat while the iShares US Healthcare ETF ( IYH ) rose 2.6%. The iShares Biotechnology ETF ( IBB ) was flat.

Sanofi ( SNY ) stock was up 3.1% premarket after the company reported higher Q3 earnings and net sales.

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.9% lower.

NatWest Group ( NWG ) shares were up 3.3% pre-bell Friday after the company reported higher Q3 results that also surpassed Capital IQ analysts' estimates.

Energy

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

NOV (NOV) was up 2% before Friday's opening bell after the company reported higher Q3 earnings late Thursday.

Commodities

Front-month US West Texas Intermediate crude oil rose 0.9% to $70.81 per barrel on the New York Mercantile Exchange. Natural gas advanced marginally by 0.04% to $2.52 per 1 million British Thermal Units. United States Oil Fund ( USO ) was up 0.3%, while the United States Natural Gas Fund ( UNG ) lost 1.5%.

Gold futures for December declined 0.4% to $2,737.50 an ounce on the Comex, while silver futures fell 1% to $33.48 an ounce. SPDR Gold Shares ( GLD ) retreated 0.3%, and iShares Silver Trust ( SLV ) was 1% lower.