08:18 AM EDT, 08/01/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.8% and the actively traded Invesco QQQ Trust (QQQ) was 1% lower in Friday's premarket activity amid revived fears of a trade war.

US stock futures were also lower, with S&P 500 Index futures down 1.1%, Dow Jones Industrial Average futures slipping 1.1%, and Nasdaq futures retreating 1.3% before the start of regular trading.

July's employment situation report will be released at 8:30 am ET, followed by the S&P Global US final July PMI manufacturing report at 9:45 am ET.

The ISM manufacturing index for July, the construction spending report for June, and the University of Michigan consumer sentiment report for July will be released at 10 am ET.

The weekly Baker Hughes domestic oil-and-gas rig count is slated for a 1 pm ET release.

In premarket activity, bitcoin was down by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% lower, Ether ETF (EETH) fell 7.8%, while Bitcoin & Ether Market Cap Weight ETF (BETH) was up 2.9%.

Power Play:

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.9%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 2.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 2.7% higher.

Patria Investments ( PAX ) shares were down more than 6% pre-bell Friday after the company reported lower-than-expected Q2 distributable earnings and revenue.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.2%, while the Vanguard Consumer Staples Fund (VDC) was 0.2% lower. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 2.5%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) declined 0.7%.

Newell Brands ( NWL ) shares were down nearly 2% pre-bell after the company reported lower Q2 normalized earnings and net sales.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) declined 0.5%. The Vanguard Health Care Index Fund ( VHT ) was down 0.2% while the iShares US Healthcare ETF ( IYH ) was flat. The iShares Biotechnology ETF (IBB) fell 1.2%.

Moderna ( MRNA ) stock was down more than 5% premarket, continuing from its 8% fall at Thursday's close. The company posted a narrower Q2 loss amid lower revenue.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.6%, and the iShares US Technology ETF ( IYW ) was 0.9% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.2%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) fell 2%, while the iShares Semiconductor ETF (SOXX) was down 1.7%.

DXC Technology ( DXC ) shares were up more than 2% in recent premarket activity after the company reported higher-than-expected fiscal Q1 non-GAAP earnings and revenue.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.2%.

Northern Oil and Gas ( NOG ) stock was up over 2% before Friday's opening bell after the company reported higher-than-expected Q2 adjusted earnings and revenue.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) retreated 1%, the Vanguard Industrials Index Fund ( VIS ) was down 1%, while the iShares US Industrials ETF ( IYJ ) was inactive.

CNH Industrial ( CNH ) stock was up more than 1% before the opening bell after the company reported higher-than-expected Q2 earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.9% at $68.64 per barrel on the New York Mercantile Exchange. Natural gas retreated 0.9% to $3.08 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 0.8% lower, while the United States Natural Gas Fund ( UNG ) declined 0.3%.

Gold futures for August were 0.1% higher at $3,352 an ounce on the Comex, while silver futures were down 0.5% at $36.53 an ounce. SPDR Gold Shares ( GLD ) advanced by 0.2%, and the iShares Silver Trust ( SLV ) was 0.8% lower.