09:06 AM EDT, 07/31/2026 (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) advanced 0.9% in Friday's premarket activity, as Amazon's ( AMZN ) stronger-than-expected earnings and continued demand for AI services outweighed weakness in Apple ( AAPL ) shares following its quarterly results.

US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 1.1% before the start of regular trading.

The quarterly US employment cost index rose by 0.9% in Q2, the same as in the previous quarter, the US Bureau of Labor Statistics reported on Friday.

July's Chicago PMI report will be released at 9:45 am ET.

The final University of Michigan consumer sentiment reading for July will be released at 10:00 am ET.

In premarket action, bitcoin was down by 1.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated 2.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.03%.

Power Play:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%, and the iShares US Consumer Staples ETF ( IYK ) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rose 2.5%. The VanEck Retail ETF ( RTH ) gained 1.2%, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.

Amazon ( AMZN ) jumped more than 10% after the company posted higher Q2 results that beat analysts' estimates.

Winners and Losers:

Health Care

The State Street Health Care Select Sector SPDR ETF ( XLV ) retreated 0.4%, the Vanguard Health Care Index Fund ( VHT ) was down 0.5%, while the iShares US Healthcare ETF ( IYH ) was flat. The iShares Biotechnology ETF (IBB) was 0.4% lower.

Novo Nordisk A/S ( NVO ) was down 8% premarket after the company said its ziltivekimab did not reduce major adverse cardiovascular events in people with atherosclerotic cardiovascular disease, chronic kidney disease and inflammation versus a placebo in a phase 3 trial.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) gained 0.4%, the iShares US Technology ETF ( IYW ) was 0.9% higher, and the iShares Expanded Tech Sector ETF ( IGM ) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF ( XSD ) increased 4.5%, while the iShares Semiconductor ETF (SOXX) rose by 3.3%.

Apple ( AAPL ) fell 7.5% pre-market Friday after the company reported lower-than-expected services revenue in fiscal Q3.

Industrial

The State Street Industrial Select Sector SPDR ETF ( XLI ) advanced 1%, the Vanguard Industrials Index Fund ( VIS ) gained 0.3%, and the iShares US Industrials ETF ( IYJ ) was flat.

RBC Bearings ( RBC ) was up more than 1% before the opening bell after the company reported higher fiscal Q1 adjusted net income and net sales.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) retreated 0.01%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% higher.

Arthur J. Gallagher ( AJG ) was down 4.4% even after the company reported higher Q2 adjusted earnings and revenue.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the State Street Energy Select Sector SPDR ETF ( XLE ) was up by 0.5%.

Chevron ( CVX ) was up 0.8% before the market open after the company reported higher Q2 results.

Commodities

Front-month US West Texas Intermediate crude oil gained by 2.1% to $85.32 per barrel on the New York Mercantile Exchange. Natural gas was up 1.5% to $2.80 per 1 million British Thermal Units. The United States Oil Fund ( USO ) increased by 1.8%, while the United States Natural Gas Fund ( UNG ) was 1% higher.

Gold futures for November retreated by 1.2% to $4,112.80 an ounce on the Comex. Silver futures declined by 1.7% to $57.99 an ounce. SPDR Gold Shares ( GLD ) was down by 1.5%, and the iShares Silver Trust ( SLV ) fell by 2.5%.