08:28 AM EDT, 10/04/2024 (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 0.5% higher in Friday's premarket activity, ahead of a key employment report expected to provide clues for potential interest rate cuts.

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 0.5% before the start of regular trading.

The September employment situation bulletin will be released at 8:30 am ET. The Baker Hughes domestic oil-and-gas rig count is slated to release at 1 pm ET.

Federal Reserve New York President John Williams speaks at 9 am ET.

In premarket activity, bitcoin was up by 0.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% higher.

Power Play:

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.1% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Spirit Airlines ( SAVE ) shares were down more than 34% before Friday's opening bell after the Wall Street Journal reported that the company is mulling the possibility of filing for bankruptcy.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced marginally by 0.01%. The Vanguard Health Care Index Fund ( VHT ) was down 0.1% while the iShares US Healthcare ETF ( IYH ) declined 1.6%. The iShares Biotechnology ETF ( IBB ) was inactive.

Summit Therapeutics ( SMMT ) stock was up nearly 8% premarket after the company said late Thursday that it completed enrollment in its late-stage HARMONi clinical trial from North America, Europe, and China, with topline data expected in mid-2025.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) gained 0.2%, 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 0.7%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was up 1%.

Rivian Automotive ( RIVN ) shares were down more than 8% pre-bell after the company lowered its 2024 production target citing component shortages.

Energy

The iShares US Energy ETF ( IYE ) was up 0.9%, while the Energy Select Sector SPDR Fund ( XLE ) was 0.7% higher.

Calumet (CLMT) stock was up 5.3% before Friday's opening bell after the company said Thursday its Montana Refining subsidiary has agreed to sell certain assets to Stonebriar for $150 million and leased them back the same assets.

Technology

Technology Select Sector SPDR Fund ( XLK ) advanced 0.4%, and the iShares US Technology ETF ( IYW ) was 1% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF ( SOXX ) rose by 0.7%.

Amkor Technology ( AMKR ) shares were up nearly 5% in recent Friday premarket activity after the company and Taiwan Semiconductor Manufacturing ( TSM ) agreed to collaborate on advanced packaging and testing capabilities in Arizona. Taiwan Semiconductor stock was down 0.2%.

Financial

Financial Select Sector SPDR Fund ( XLF ) retreated 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.3% lower.

HIVE Digital Technologies ( HIVE ) shares gained 1% after the company said Friday it mined 112 bitcoins in September, with its holdings up 1.4% from August.

Commodities

Front-month US West Texas Intermediate crude oil gained 1.5% to reach $74.81 per barrel on the New York Mercantile Exchange. Natural gas was up 0.8% at $2.99 per 1 million British Thermal Units. United States Oil Fund ( USO ) rose 1.4%, while the United States Natural Gas Fund ( UNG ) was 1.4% higher.

Gold futures for December gained marginally 0.03% to $2,680.10 an ounce on the Comex, while silver futures declined 0.3% to $32.38 an ounce. SPDR Gold Shares ( GLD ) were up 0.1%, and iShares Silver Trust ( SLV ) was 0.3% higher.