Exchange-Traded Funds Higher, Equity Futures Lower Pre-Bell Friday as Traders Turn Cautious After Major US Data Releases

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 0.2% higher in Friday's premarket activity, as traders turned cautious as they digested major US data released the previous day.

US stock futures were lower, with S&P 500 Index futures losing 0.1%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures declining marginally by 0.01% before the start of regular trading.

Richmond Federal Reserve President Thomas Barkin speaks at 8:30 am ET.

The S&P Global PMI manufacturing final for February will be released at 9:45 am ET, followed by the February ISM manufacturing index report and the January construction spending bulletin, both due at 10 am ET.

The University of Michigan consumer sentiment report final for February will also be posted at 10 am ET. The Baker Hughes domestic oil-and-gas rig count is slated for a 1 pm ET release.

US Federal Reserve Governor Christopher Waller and Dallas Fed President Lorie Logan speak at 10:15 am ET, Atlanta Fed President Raphael Bostic at 12:15 pm ET, San Francisco Fed President Mary Daly at 1:30 pm ET, and Fed Governor Adriana Kugler will speak at 3:30 pm ET.

In premarket action, bitcoin was down 0.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down by 0.2%, while the Vanguard Consumer Staples Fund (VDC) was marginally higher. The iShares US Consumer Staples ETF (IYK) was up 2.2%, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was flat.

Fisker FFSR shares were down more than 38% in Friday's premarket activity after the electrical vehicle maker reported weaker-than-expected preliminary Q4 results late Thursday and detailed plans to cut jobs amid worries it may not be able to continue as a going concern ahead of a difficult 2024.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.1% and the Vanguard Industrials Index Fund (VIS) advanced 0.2%, while the iShares US Industrials ETF (IYJ) was inactive.

Sidus Space SIDU fell more than 33% before the opening bell Friday after the company said late Thursday it priced a public offering of about 1.3 million Class A shares at $6 per share for gross proceeds of about $7.9 million.

Technology

Technology Select Sector SPDR Fund (XLK) was up by 0.2%, and the iShares US Technology ETF (IYW) was marginally lower, while the iShares Expanded Tech Sector ETF (IGM) was 0.3% lower. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) lost 1.8%, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.

Everbridge EVBG was up nearly 26% in recent Friday premarket activity after the company and Thoma Bravo said Everbridge has agreed to a higher per-share price of $35, or $1.8 billion in cash, for the acquisition by Thoma.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% higher.

New York Community Bancorp NYCB fell more than 20% pre-bell after the lender late Thursday disclosed "material weaknesses" in internal controls related to loan review processes, adding to concerns regarding the bank's exposure to commercial office markets.

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.3%. The Vanguard Health Care Index Fund (VHT) was 0.4% higher while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was up by 0.2%.

Amneal Pharmaceuticals AMRX was up more than 16% premarket after the company reported higher-than-expected Q4 adjusted earnings and issued 2024 guidance in line with analysts' expectations.

Energy

The iShares US Energy ETF (IYE) was down 0.1%, while the Energy Select Sector SPDR Fund (XLE) was 0.4% higher.

EnCore Energy EU was up 3.6% before Friday's opening bell after the company announced the establishment of two education scholarship programs, intended to support youth in communities where EnCore operates.

Commodities

Front-month US West Texas Intermediate crude oil gained 1.6% to reach $79.50 per barrel on the New York Mercantile Exchange. Natural gas was flat at $1.86 per 1 million British Thermal Units. United States Oil Fund (USO) was 1.8% higher, while the United States Natural Gas Fund (UNG) gained 0.4%.

Gold futures for April advanced 0.4% to $2,062.60 an ounce on the Comex, and silver futures were up 0.1% at $22.91 an ounce. SPDR Gold Shares (GLD) traded up 0.5%, and iShares Silver Trust (SLV) was 0.3% higher.