The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Friday's premarket activity as traders anticipate upcoming economic reports due later in the day.

US stock futures were higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.8% before the start of regular trading.

The December personal consumption expenditures core price index and the Q4 employment cost index will be released at 8:30 am ET, followed by the Chicago PMI for January at 9:45 am ET.

The Baker Hughes domestic oil-and-gas rig count posts at 1 pm ET.

Federal Reserve Governor Michelle Bowman speaks at 8:30 am ET.

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

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) rose 1%, and the iShares US Technology ETF (IYW) was 1% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was up 0.4%, while the iShares Semiconductor ETF (SOXX) advanced 0.8%.

AST SpaceMobile (ASTS) shares were up 6.5% in recent Friday premarket activity after the company said late Thursday it received a special temporary authority from the Federal Communications Commission authorizing the company's testing service in the US.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.

Banco Santander Chile (BSAC) shares were down 4.3% pre-bell Friday after the company reported lower-than-expected Q4 net income.

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.1%. The Vanguard Health Care Index Fund (VHT) was up 0.7% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) gained 0.7%.

Novartis (NVS) stock was up 2.2% premarket after the company reported higher Q4 core earnings and revenue.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) declined by 0.3%.

Dorian LPG (LPG) stock was down 2.1% before Friday's opening bell after the company reported lower fiscal Q3 adjusted earnings and revenue.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.2% and the Vanguard Industrials Index Fund (VIS) was down 0.6%, while the iShares US Industrials ETF (IYJ) was inactive.

ArcBest (ARCB) stock was up 1.6% before the opening bell after the company reported lower Q4 non-GAAP earnings and revenue.

Consumer

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

Colgate-Palmolive (CL) shares were down 1.6% pre-bell after the company reported lower Q4 net sales that trailed analyst estimates.

Commodities

Front-month US West Texas Intermediate crude oil declined 0.2% to $72.62 per barrel on the New York Mercantile Exchange. Natural gas fell 1% at $3.02 per 1 million British Thermal Units. United States Oil Fund (USO) lost 0.2%, while the United States Natural Gas Fund (UNG) fell 1.2%.

Gold futures for April were up 0.1% at $2,847.10 an ounce on the Comex, and silver futures gained 0.6% to reach $32.68 an ounce. SPDR Gold Shares (GLD) were up 0.4%, while the iShares Silver Trust (SLV) was 0.5% higher.