The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Tuesday's premarket activity, as the earnings season wanes.
US stock futures were mixed, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.3% before the start of regular trading.
The Case-Shiller Home Price Index and the FHFA House Price Index, both for March, will be released at 9 am ET.
The Conference Board consumer confidence report for May posts at 10 am ET, and the Dallas Fed Manufacturing Survey for May posts at 10:30 am ET.
Minneapolis Fed President Neel Kashkari speaks at 9:55 am ET, and Governor Lisa Cook at 1:05 pm ET.
In premarket action, bitcoin was down by 1.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% lower.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) slipped by 0.2%. The Vanguard Health Care Index Fund (VHT) was up 0.5% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) edged up by 0.01%.
Insmed (INSM) shares were up more than 131% premarket after the company said that its experimental drug, brensocatib, for the treatment of bronchiectasis lung disease, met the primary endpoint in a late-stage study.
Winners and Losers:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was flat, 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 0.1%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was up 0.6%.
Sea Limited (SE) traded down more than 5% pre-bell after Bloomberg reported that the company is under investigation by Indonesia's antitrust authorities for allegedly favoring its delivery service over others.
Financial
Financial Select Sector SPDR Fund (XLF) retreated 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.
Futu Holdings (FUTU) was 2.1% higher pre-bell after the company reported Q1 earnings Tuesday of 7.46 Hong Kong dollars ($0.95) per diluted American depositary share, down from HK$8.44 per ADS a year earlier.
Industrial
Industrial Select Sector SPDR Fund (XLI) slipped 0.3%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
Elbit Systems (ESLT) shares fell 1.7% before the opening bell even after the company reported higher Q1 financial results.
Technology
Technology Select Sector SPDR Fund (XLK) advanced 0.5%, and the iShares US Technology ETF (IYW) was 0.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.9%.
Alarm.com (ALRM) shares were down 0.2% in recent premarket activity after the company said it plans to offer a $375 million convertible senior notes in a private placement.
Energy
The iShares US Energy ETF (IYE) was 0.7% higher, while the Energy Select Sector SPDR Fund (XLE) was up by 0.4%.
Equinor ASA (EQNR) was up nearly 2% before the opening bell after the company said the nomination committee recommended the election of Tone Hegland Bachke and Fernanda Lopes Larsen as members of the board of directors.
Commodities
Front-month US West Texas Intermediate crude oil advanced 1.5% to $78.86 per barrel on the New York Mercantile Exchange. Natural gas was 0.2% lower at $2.51 per 1 million British Thermal Units. United States Oil Fund (USO) gained 1.5%, while the United States Natural Gas Fund (UNG) fell by 0.7%.
Gold futures for August were up 0.6% to $2,370.50 an ounce on the Comex, while silver futures rose 4.3% to $31.80 an ounce. SPDR Gold Shares (GLD) were up 0.5%, and iShares Silver Trust (SLV) was 4.1% higher.
Comments