The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1.6% and the actively traded Invesco QQQ Trust (QQQ) was 2% lower in Friday's premarket activity after President Trump proposed 50% tariffs on the EU.

US stock futures were also lower, with S&P 500 Index futures down 1.7%, Dow Jones Industrial Average futures declining 1.6%, and Nasdaq futures retreating 2% before the start of regular trading.

The new home sales report for April will be released at 10 am ET.

Federal Reserve Governor Lisa Cook is slated to speak at 12 pm ET. Fed Chair Jerome Powell is scheduled to speak on Sunday.

In premarket activity, bitcoin was up by 1.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher.

Power Play:

Energy

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

Hallador Energy (HNRG) stock was down more than 21% before Friday's opening bell after the company said late Thursday that a conversion transaction commitment agreement, effective Jan. 2, with a "leading global datacenter developer was being terminated by the counterparty."

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.4%, 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) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was down 0.3%.

MINISO Group Holding (MNSO) shares were down more than 15% pre-bell after the company reported lower Q1 adjusted earnings.

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 flat. The iShares Biotechnology ETF (IBB) was flat.

Gyre Therapeutics (GYRE) stock was down more than 14% premarket after the company said Thursday it priced its underwritten public offering of about 2.2 million common shares at $9 apiece for expected gross proceeds of roughly $20 million.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.1% while the Vanguard Industrials Index Fund (VIS) was inactive. The iShares US Industrials ETF (IYJ) was down 0.7%.

Booz Allen Hamilton (BAH) stock was down more than 11% before the opening bell after the company provided fiscal 2026 guidance that trailed the estimates of analysts polled by FactSet.

Technology

Technology Select Sector SPDR Fund (XLK) declined 1.4%, and the iShares US Technology ETF (IYW) was down 0.4%, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) retreated 0.6%, while the iShares Semiconductor ETF (SOXX) fell by 2%.

Intuit (INTU) shares were up more than 7% in recent premarket activity after the company posted higher fiscal Q3 non-GAAP earnings and revenue in addition to lifting its fiscal 2025 adjusted EPS guidance.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 2.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3% higher.

Deutsche Bank (DB) shares were down more than 1% pre-bell Friday after Bloomberg News reported that the bank is selling a significant risk transfer tied to $3 billion in corporate loans through transactions involving the sale of notes in exchange for yields that can frequently top 10%.

Commodities

Front-month US West Texas Intermediate crude oil retreated 1.4% to $60.33 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% at $3.26 per 1 million British Thermal Units. United States Oil Fund (USO) was down 0.6%, while the United States Natural Gas Fund (UNG) was 0.5% lower.

Gold futures for August gained 1.7% to reach $3,380.60 an ounce on the Comex, while silver futures advanced 0.1% to $33.24 an ounce. SPDR Gold Shares (GLD) was up 1.9%, and the iShares Silver Trust (SLV) was 0.1% higher.