08:56 AM EST, 11/14/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 1.1% and the actively traded Invesco QQQ Trust (QQQ) was 1.7% lower in Friday's premarket activity as investors scale back chances of a December rate cut by the Federal Reserve.

US stock futures were also lower, with S&P 500 Index futures down 0.9%, Dow Jones Industrial Average futures slipping 0.6%, and Nasdaq futures falling 1.4% before the start of regular trading.

The weekly EIA natural gas bulletin will be released at 10:30 am ET, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm ET.

Federal Reserve Kansas City President Jeffrey Schmid, Dallas President Lorie Logan and Atlanta President Raphael Bostic are slated to speak on Friday.

In premarket action, bitcoin was down by 0.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) fell by 3.4%, Ether ETF (EETH) was down 2.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.9% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.3%. The Vanguard Health Care Index Fund ( VHT ) was down 0.1%, while the iShares US Healthcare ETF ( IYH ) advanced marginally by 0.03%. The iShares Biotechnology ETF (IBB) was 0.5% lower.

Avadel Pharmaceuticals ( AVDL ) stock was down more than x% premarket after the company said it received an unsolicited acquisition proposal from H. Lundbeck to acquire Avadel for up to $23.00 per share.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund ( XLI ) retreated 0.3% and the Vanguard Industrials Index Fund ( VIS ) was down 0.2%, while the iShares US Industrials ETF ( IYJ ) was inactive.

Rocket Lab ( RKLB ) stock was down more than 6% before the opening bell, adding to the 9.5% loss at the prior day's close. The company said late Thursday it launched two Explorer-class spacecraft for a Mars mission conducted by NASA and UC Berkeley's Space Sciences Laboratory.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 1.8%, and the iShares US Technology ETF ( IYW ) was 0.8% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was down 1.2%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) declined by 0.04%, while the iShares Semiconductor ETF (SOXX) fell by 2.8%.

RLX Technology ( RLX ) shares were up more than 4% in recent premarket activity after the company reported higher Q3 non-GAAP net income and revenue.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 1.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.4% higher.

Sumitomo Mitsui Financial Group ( SMFG ) shares were up more than 3% pre-bell after the company posted higher fiscal H1 earnings and raised its fiscal 2026 EPS outlook.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.4%, while the Vanguard Consumer Staples Fund (VDC) was down 0.2%. The iShares US Consumer Staples ETF ( IYK ) was 0.2% higher, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 1.4%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF (XRT) was down 0.5%.

Stellantis ( STLA ) shares were down more than 2% pre-bell after Reuters reported, citing the US National Highway Traffic Safety Administration, that the company is recalling 112,859 vehicles in the US as debris inside the engine could result in engine failure or compartment fire.

Energy

The iShares US Energy ETF ( IYE ) was up 0.8%, while the Energy Select Sector SPDR Fund ( XLE ) was 0.8% higher.

Enbridge ( ENB ) stock was retreating marginally by 0.2% before Friday's opening bell. The company said it has reached a final investment decision on the Mainline Optimization Phase 1 project, with an estimated $1.4 billion capital cost, to increase its Canadian heavy oil deliveries to key refining markets in the US Midwest and Gulf Coast.

Commodities

Front-month US West Texas Intermediate crude oil gained 1.6% to reach $59.62 per barrel on the New York Mercantile Exchange. Natural gas was down 2.5% at $4.53 per 1 million British Thermal Units. The United States Oil Fund ( USO ) advanced by 1.7%, while the United States Natural Gas Fund ( UNG ) was 1.1% lower.

Gold futures for December fell by nearly 2% to $4,112.60 an ounce on the Comex, and silver futures were down 2.9% to $51.62 an ounce. SPDR Gold Shares ( GLD ) retreated by 1.3%, and the iShares Silver Trust ( SLV ) was nearly 1% lower.