08:21 AM EDT, 09/27/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.02% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Friday's premarket activity, ahead of a key inflation report due pre-bell.

US stock futures were also lower, with S&P 500 Index futures down 0.02%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.2% before the start of regular trading.

The Federal Reserve's preferred inflation metric, the personal consumption expenditures, or PCE, core index, will post at 8:30 am ET. Other reports releasing at the same time are the advance August international trade in goods report and the retail and wholesale inventories bulletins for August.

The University of Michigan consumer sentiment report for September 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, followed by the farm prices report for August at 3 pm ET.

Federal Reserve Governor Michelle Bowman speaks at 1:15 pm ET.

In premarket action, bitcoin was up by 1.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was 1.3% higher.

Power Play:

Industrial

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

Momentus ( MNTS ) shares were down 16% before the opening bell after the company said Thursday that it received a non-compliance notice from Nasdaq after it failed to comply with its minimum bid price requirement.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund ( XLK ) retreated 0.2%, and the iShares US Technology ETF ( IYW ) was 0.5% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF ( SOXX ) was down 0.2%.

IonQ ( IONQ ) stock was up nearly 8% in recent premarket activity after the company said it had signed a $54.5 million contract with the United States Air Force Research Lab to design and develop technology and hardware that enables quantum systems' scaling, networking, and employability.

Financial

Financial Select Sector SPDR Fund ( XLF ) gained 0.1%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was flat.

CION Investment ( CION ) stock was up 7% pre-bell Friday after the company priced a $150 million public offering of unsecured notes on Thursday and said it aims to use the net proceeds to reduce its debt.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.2%. The Vanguard Health Care Index Fund ( VHT ) was up 0.4% while the iShares US Healthcare ETF ( IYH ) and the iShares Biotechnology ETF ( IBB ) were inactive.

PureTech Health ( PRTC ) shares were up nearly 5% premarket after the company said that the US Food and Drug Administration had approved KarXT for the treatment of schizophrenia in adults, trigging milestone payments totaling $29 million pursuant to a royalty agreement with Royalty Pharma.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.04%, while the Vanguard Consumer Staples Fund (VDC) advanced 0.2%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.2%. The VanEck Retail ETF ( RTH ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

JD.com ( JD ) shares were up 2.2% pre-bell after China's central bank announced measures to stimulate the domestic economy this week.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.4%.

Scorpio Tankers ( SBBA ) shares were up 1% before Friday's opening bell after the company said Thursday that its President Robert Bugbee purchased 2,343 call option contracts on the fuel tankers operator's stock for $1.5 million.

Commodities

Front-month US West Texas Intermediate crude oil gained by 0.4% to $67.91 per barrel on the New York Mercantile Exchange. Natural gas was down 1% at $2.73 per 1 million British Thermal Units. United States Oil Fund ( USO ) advanced 0.9%, while the United States Natural Gas Fund ( UNG ) lost 1%.

Gold futures for December were down 0.2% at $2,689.50 an ounce on the Comex, while silver futures retreated 0.3% to $32.24 an ounce. SPDR Gold Shares ( GLD ) declined 0.2%, and iShares Silver Trust ( SLV ) was 0.3% lower.