08:30 AM EST, 11/08/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Friday's premarket activity as markets traded mixed after investor's stepped back after a week of frenzied trading.

US stock futures were also mixed, with S&P 500 Index futures down 0.03%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 0.2% before the start of regular trading.

November's consumer sentiment report from the University of Michigan will be released at 10 am ET, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm ET.

Federal Reserve Governor Michelle Bowman speaks at 11 am ET, and St. Louis Fed President Alberto Musalem speaks at 2:30 pm ET.

In premarket activity, bitcoin was down by 0.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.1%. The Vanguard Health Care Index Fund ( VHT ) was flat while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) gained by 0.2%.

Fortrea Holdings ( FTRE ) stock was up more than 19% premarket after the company reported Q3 revenue in line with Capital IQ analyst estimates.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.04%, while the Vanguard Consumer Staples Fund (VDC) rose 1.8%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.1%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) advanced 0.3%.

Bloomin' Brands ( BLMN ) shares were down more than 10% pre-bell after the company reported lower fiscal Q3 adjusted earnings and revenue, and cut its guidance for 2024 adjusted earnings and US comparable restaurant sales.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.3% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

CNH Industrial ( CNH ) stock was down more than 10% before the opening bell after the company reported lower Q3 adjusted earnings and revenue that also fell short of analysts' expectations.

Technology

Technology Select Sector SPDR Fund ( XLK ) retreated marginally by 0.04%, and the iShares US Technology ETF ( IYW ) slipped by 0.1%, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.2%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was flat, while the iShares Semiconductor ETF (SOXX) lost 0.5%.

Sony Group ( SONY ) shares were up more than 7% in recent Friday premarket activity after the company reported higher fiscal Q2 earnings and revenue, and lifted its guidance for fiscal 2025 revenue.

Energy

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

Icahn Enterprises ( IEP ) stock was down more than 5% before Friday's opening bell after the company reported lower Q3 revenue and halved its quarterly distribution.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.5% lower.

Valley National Bancorp ( VLY ) shares were down more than 4% pre-bell Friday after the bank said late Thursday that it priced a public offering of 42.8 million common shares at $9.35 apiece for $400 million in expected gross proceeds.

Commodities

Front-month US West Texas Intermediate crude oil fell by 1.7% to $71.14 per barrel on the New York Mercantile Exchange. Natural gas gained 1.2% to reach $2.72 per 1 million British Thermal Units. United States Oil Fund ( USO ) was down 1.1%, while the United States Natural Gas Fund ( UNG ) advanced 0.7%.

Gold futures for December decreased 0.3% to reach $2,696.70 an ounce on the Comex, while silver futures retreated nearly 1% to $31.56 an ounce. SPDR Gold Shares ( GLD ) slipped by 0.5%, and iShares Silver Trust ( SLV ) fell by 1.3%.