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) was 0.5% higher in Friday's premarket activity as a Federal Reserve official reignites hopes for an interest rate cut.

US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.2% before the start of regular trading.

New York Fed President John Williams said Friday he sees room for "further adjustment" to interest rates in the near term.

The purchasing managers' index report from S&P Global for November will be released at 9:45 am ET, followed by the final University of Michigan consumer sentiment report for the same month at 10 am ET.

Fed Governor Michael Barr, Dallas Fed President Lorie Logan, and Boston Fed President Susan Collins are also slated to speak on Friday.

In premarket activity, bitcoin was down by 5.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.2% lower, Ether ETF (EETH) retreated by 3.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell 4.2%.

Power Play:

Industrial

Industrial Select Sector SPDR Fund (XLI) gained 0.1%, while the Vanguard Industrials Index Fund (VIS) declined by 0.04%, and the iShares US Industrials ETF (IYJ) was inactive.

Enviri (NVRI) stock was up more than 35% before the opening bell after the company said it has agreed to sell its Clean Earth unit to Veolia Environnement for $3.04 billion in cash.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.3%, and the iShares US Healthcare ETF (IYH) gained 0.4%. The iShares Biotechnology ETF (IBB) was marginally higher by 0.01%.

AnaptysBio (ANAB) stock was down more than 14% premarket after GSK (GSK) unit Tesaro and AnaptysBio sued each other, alleging breaches in their license agreement for cancer drug Jemperli. GSK stock was 0.8% higher.

Technology

Technology Select Sector SPDR Fund (XLK) gained 0.1%, and the iShares US Technology ETF (IYW) was 0.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 1.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) declined 0.8%, while the iShares Semiconductor ETF (SOXX) was 0.1% higher.

Intuit (INTU) shares were up more than 3% in recent premarket activity after the company reported higher fiscal Q1 results.

Energy

The iShares US Energy ETF (IYE) was down 0.4%, while the Energy Select Sector SPDR Fund (XLE) was up by 0.6%.

Frontline (FRO) stock was up more than 2% before Friday's opening bell even after the company posted lower Q3 adjusted earnings and revenue.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.4%, while the Vanguard Consumer Staples Fund (VDC) gained 0.9%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) rose 0.8%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) advanced 0.1%.

Toyota Motor (TM) shares were up more than 2% pre-bell after the company's Japanese joint venture in China, GAC Toyota, said it expects an annual production of 770,000 units by the end of the year, adding that China sales approached 640,000 units between January and October.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% lower.

White Mountains Insurance (WTM) shares were up more than 1% pre-bell after the company said Friday it has begun a 'modified Dutch auction' self-tender offer to repurchase up to $300 million of its common shares at prices between $1,850 and $2,050 per share, in cash and without interest.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.9% at $58.49 per barrel on the New York Mercantile Exchange. Natural gas was up 1% at $4.52 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 0.5%, while the United States Natural Gas Fund (UNG) was 0.4% higher.

Gold futures for December advanced by 0.1% to $4,063.60 an ounce on the Comex, and silver futures were down by 2.1% at $49.92 an ounce. SPDR Gold Shares (GLD) retreated by 0.3%, and the iShares Silver Trust (SLV) was down 1.9%.