The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Friday's premarket activity after Federal Reserve Chair Jerome Powell said the US economy is not sending any signals for the central bank to be in a "hurry" to lower interest rates.

US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures losing 1% before the start of regular trading.

US retail sales rose by 0.4% in October, a smaller increase than the 0.3% gain expected in a survey compiled by Bloomberg as of 7:30 am ET and following the previous month's 0.8% increase.

The New York Federal Reserve's Empire State manufacturing index rebounded to 31.2 in November after falling to minus 11.9 in October, compared with a flat reading expected in a survey compiled by Bloomberg as of 7:30 am ET.

The industrial production report for October is due at 9:15 am ET, followed by Federal Reserve Bank Boston President Susan Collins' speech at 10:30 am ET.

The weekly Baker Hughes domestic oil-and-gas rig count is due at 1 pm ET, while New York Fed President John Williams will speak at 1:15 pm ET.

In premarket activity, Bitcoin was up by 2.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.6% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.2%. The Vanguard Health Care Index Fund (VHT) was down by 0.6%, and the iShares US Healthcare ETF (IYH) was 0.3% lower. The iShares Biotechnology ETF (IBB) slipped 0.2%.

TFF Pharmaceuticals (TFFP) shares tumbled 73% before the bell Friday, a day after saying it terminated its employees and will wind down its operations.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was 0.6% lower, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) advanced 0.5%.

Greenidge Generation Holdings (GREE) shares surged 57% in recent Friday premarket activity, a day after saying a New York judge overturned the New York State Department of Environmental Conservation's denial of its application for renewal of a Title V Air Permit.

Technology

Technology Select Sector SPDR Fund (XLK) was down by 0.8%. The iShares US Technology ETF (IYW) was 0.4% lower, and the iShares Expanded Tech Sector ETF (IGM) retreated 1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was flat, while the iShares Semiconductor ETF (SOXX) declined by 1.2%.

FuelCell Energy (FCEL) shares were up 16% before Friday's opening bell after it said it is restructuring operations in the US, Canada, and Germany to help reduce costs by about 15% in the fiscal year 2025 compared with the previous year.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was 0.3% lower, while the Vanguard Consumer Staples Fund (VDC) was up 0.1%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) was down 0.3%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) declined by 0.6%.

Despegar.com (DESP) shares were up over 11% pre-bell Friday, a day after the company posted higher Q3 adjusted earnings and revenue.

Energy

The iShares US Energy ETF (IYE) was down 0.4%, and the Energy Select Sector SPDR Fund (XLE) was 0.2% lower.

PHX Minerals (PHX) shares were up 5.7% before the bell Friday after it said overnight its board rejected WhiteHawk Energy's takeover proposal through an all-cash transaction of $4 per PHX share.

Industrial

Industrial Select Sector SPDR Fund (XLI) declined by 0.5%, while the Vanguard Industrials Index Fund (VIS) was marginally higher by 0.01%. The iShares US Industrials ETF (IYJ) was flat.

SolarEdge Technologies (SEDG) shares were down 4% before Friday's opening bell after Morgan Stanley downgraded it to underweight from equalweight and cut its price target to $9 from $23.

Commodities

Front-month US West Texas Intermediate crude oil slipped 0.1% to reach $68.62 per barrel on the New York Mercantile Exchange. Natural gas declined by 2.7% to $2.71 per 1 million British Thermal Units. United States Oil Fund (USO) was down by 0.04%, while the United States Natural Gas Fund (UNG) was 1.8% lower.

Gold futures for December gained 0.2% at $2,579.10 an ounce on the Comex, while silver futures advanced 0.8% to $30.82 an ounce. SPDR Gold Shares (GLD) increased by 0.2%, and iShares Silver Trust (SLV) was 0.5% higher.