Consumer stocks were mixed pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 1.3% lower.
Magnum Ice Cream (MICC) shares were up more than 10% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering acquisition bids for the company.
Technology stocks were falling premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 4.1% lower.Taiwan Semiconductor Manufacturing (TSM) plans to sell a significant stake, comprising 152 million shares or around an 8.1% interest, in Vanguard International Semiconductor, the company said. Shares of Taiwan Semiconductor Manufacturing were down more than 3% pre-bell.
Markets are ending the week in "turmoil," said Scotiabank.Oil continues to creep higher with WTI and Brent up by around US$3 a barrel and inching back toward the Middle East wartime peak, noted the bank.Bonds are selling off across maturities and markets, with gilts leading the way with double-digit increases in yields due to ongoing political "dysfunction" in the United Kingdom, stated Scotiabank.Stocks are lower by more than 1% across all major yardsticks, it pointed out. The US dollar (USD) is broadly firmer. Crypto-land is broadly lower.Canadian bond markets will shut early on Friday at 1 p.m. ET in consideration of Monday's national holiday, added the bank.