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Sector Update: Tech Stocks Rise Pre-Bell Friday

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Technology stocks were rising pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.3% higher.

Dell Technologies (DELL) shares were up more than 33% after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

Super Micro Computer (SMCI) stock was up more than 10% after the company said it is collaborating with Taiwanese authorities to prevent illicit diversion of its servers into the restricted Chinese market.

Asana (ASAN) acquired StackAI, a no-code platform that helps enterprises create AI agents and automate workflows across business systems, the company said. Asana shares were up more than 7% premarket.

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Sectors

Sector Update: Energy

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 2.5% and the United States Natural Gas Fund (UNG) was 3% higher.Front-month US West Texas Intermediate crude oil was 1.2% lower at $87.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $92.27 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported, citing industry sources. Shares of Chevron were down 0.4% pre-bell.

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Sectors

Sector Update: Financial

Financial stocks were edging higher premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.JPMorgan Chase (JPM) and Nomura Holdings (NMR) are among the firms picked by Waaree Energies to manage its planned share sale, which could raise up to $700 million, Bloomberg reported, citing people familiar with the matter. Nomura Holdings shares were up 1% pre-bell.

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Sectors

Gold Trading Higher Again on Expectations the U.S. and Iran are Near a Peace Deal

Gold traded higher for a second day early on Friday as the dollar and yields steadied on expectations the U.S. war on Iran is nearing an end, pushing oil price lower and easing the inflation worries that have pushed up the dollar.Gold for July delivery was last seen up US$18.30 to US$4,550.70 per ounce.The Wall Street Journal reported U.S. Treasury Secretary Scott Bessent said the Trump Administration is near a deal to end the war, which enters its fourth month today. The paper said President Trump is pressing Iran for a commitment to surrender its stocks of enriched uranium and fully reopen the Strait of Hormuz. Thursday reports that the two countries have extended a ceasefire for 60 days, are also pushing oil prices lower and easing worries energy inflation will force central banks to raise interest rates."The easing of energy-driven inflation concerns helped push bond yields and the dollar lower, providing support to bullion," Saxo Bank noted.Still, the dollar edged up early, with the ICE dollar index last seen up 0.05 points to 99.06. Treasury yields eased, with the U.S. two-year not last seen paying 4.025%, down 0.8 basis points, while the yield on the 10-year note was down 0.4 points to 4.444%.

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