The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% higher in Thursday's premarket activity pushed by the continued gains in NVIDIA's (NVDA) stock.
US stock futures were mixed, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.6% before the start of regular trading.
The weekly jobless claims bulletin will be released at 8:30 am ET, along with the housing starts and permits report for May, the Philadelphia Fed Manufacturing Index for June, and the Q1 international trade current account report.
The Atlanta Fed Business Inflation Expectations report for June posts at 10 am ET, followed by the weekly EIA domestic oil inventories report at 11 am ET.
Minneapolis Fed President Neel Kashkari speaks at 8:45 am ET, Richmond Fed President Thomas Barkin at 4 pm ET, and San Francisco Fed President Mary Daly at 10:15 am ET.
In premarket action, bitcoin was up by 2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3% higher.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) was flat. The Vanguard Health Care Index Fund (VHT) was up 0.2% while the iShares US Healthcare ETF (IYH) and the iShares Biotechnology ETF (IBB) were inactive.
Tempest Therapeutics' (TPST) ****stock price was up more than 51% premarket ahead of the company's release of new data from a phase 1b/2 study of amezalpat in combination with atezolizumab and bevacizumab for hepatocellular carcinoma patients.
Winners and Losers:
Industrial
Industrial Select Sector SPDR Fund (XLI) slipped marginally by 0.04% and the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
BEST (BEST) shares gained more than 14% before the opening bell after the company said it signed a merger agreement with BEST Global Partners and Phoenix Global Partners, a wholly-owned subsidiary of BEST Global.
Technology
Technology Select Sector SPDR Fund (XLK) was 0.7% higher, and the iShares US Technology ETF (IYW) was up 1.1%, while the iShares Expanded Tech Sector ETF (IGM) gained 1.2%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) advanced 0.5%, while the iShares Semiconductor ETF (SOXX) rose by 0.9%.
Accenture (ACN) was up more than 6% in recent Thursday premarket activity even after the company reported lower fiscal Q3 results and cut its forecast for 2024.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was marginally up by 0.03%, while the Vanguard Consumer Staples Fund (VDC) edged up 0.01%. The iShares US Consumer Staples ETF (IYK), the Consumer Discretionary Select Sector SPDR Fund (XLY), the VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.
Winnebago Industries (WGO) traded down more than 5% pre-bell after the company reported lower fiscal Q3 financial results.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.2%.
Enphase Energy (ENPH) ****was down 3.7% before Thursday's opening bell after JPMorgan cut its price target on the company to $124 from $128.
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.4% lower.
Commodities
Front-month US West Texas Intermediate crude oil advanced 0.2% to $81.70 per barrel on the New York Mercantile Exchange. Natural gas was 2.2% lower at $2.85 per 1 million British Thermal Units. United States Oil Fund (USO) gained 0.2%, while the United States Natural Gas Fund (UNG) fell 2.3%.
Gold futures for August were up 0.3% to $2,353.50 an ounce on the Comex, while silver futures rose 2.7% to $30.68 an ounce. SPDR Gold Shares (GLD) advanced 0.4%, and iShares Silver Trust (SLV) was 2.6% higher.
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