08:30 AM EST, 11/22/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.1% and the actively traded Invesco QQQ Trust (QQQ) 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 (BITO) was 0.6% higher.

Power Play:

Health Care

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

Modular Medical ( MODD ) 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 (XLF) was flat. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was flat.

Abacus Life ( ABL ) 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 (XLK) retreated 0.2%, and the iShares US Technology ETF ( IYW ) was inactive, while the iShares Expanded Tech Sector ETF ( IGM ) gained by 0.03%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) declined 0.1%.

StoneCo ( STNE ) 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 ( XLP ) was marginally down by 0.04%, 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 ) advanced 0.2%.

Tapestry (TPR) 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 ( XLI ) retreated marginally by 0.01% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

EHang Holdings ( EH ) 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 ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.2%.

Equinor ( EQNR ) 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 ( USO ) lost 0.7%, while the United States Natural Gas Fund ( UNG ) 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 ( GLD ) gained 1.2%, and iShares Silver Trust ( SLV ) was 1.9% higher.