The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.9% and the actively traded Invesco QQQ Trust (QQQ) advanced 1.3% in Friday's premarket activity, amid a reduced risk of a US government shutdown.

US stock futures were also higher, with S&P 500 Index futures up 0.9%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 1.2% before the start of regular trading.

The University of Michigan consumer sentiment report for March will be released at 10 am ET, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm ET.

In premarket action, bitcoin was up by 3.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.9% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained nearly 1%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) rose 1.7%.

Li Auto (LI) shares were down more than 6% pre-bell after the company reported lower Q4 non-GAAP earnings that trailed FactSet analyst expectations.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) rose 1.5%, and the iShares US Technology ETF (IYW) was 1.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) advanced 1.8%.

RLX Technology (RLX) shares were up more than 6% in recent Friday premarket activity after the company reported higher Q4 revenue that beat analyst estimates.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.7%.

MRC Global (MRC) stock was down more than 4% before Friday's opening bell after the company said its Q4 swung to an adjusted net loss and posted lower sales.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.3% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

BrightView Holdings (BV) stock was up 2.7% before the opening bell after the company said late Thursday its board has approved the repurchase of up to $100 million shares of the company's common stock.

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.3%. The Vanguard Health Care Index Fund (VHT) was inactive while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was inactive.

ANI Pharmaceuticals (ANIP) stock was up more than 1% premarket after the company said that the US Food and Drug Administration approved Iluvien to treat chronic non-infectious uveitis affecting the eye's posterior segment.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2% lower.

Bank of America (BAC) shares were up nearly 1% pre-bell Friday after Reuters reported the company has laid off 16 bankers in Hong Kong as part of cuts to its investment banking staff.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.8% to $67.10 per barrel on the New York Mercantile Exchange. Natural gas declined 1.7% to $4.04 per 1 million British Thermal Units. United States Oil Fund (USO) was up 0.8%, while the United States Natural Gas Fund (UNG) advanced 0.2%.

Gold futures for April advanced 0.6% to $3,009.50 an ounce on the Comex, while silver futures gained 1.3% to $34.74 an ounce. SPDR Gold Shares (GLD) advanced 0.4%, and the iShares Silver Trust (SLV) was 0.5% higher.