The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% lower in Thursday's premarket activity, ahead of a deluge of economic data releasing pre-bell.
US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.2% before the start of regular trading.
Economic reports due at 8.30 AM ET include the weekly jobless claims bulletin, the durable goods orders for May, the final Q1 GDP report, the Q1 corporate profits report, and the May international trade in goods report.
Also, the May retail and wholesale inventories bulletins will be posted at 8:30 am ET.
May's pending home sales index is slated to be released at 10 am ET, followed by the weekly EIA domestic natural gas supplies bulletin at 10:30 am ET.
The Kansas City Fed Manufacturing Index for June posts at 11 am ET.
In premarket action, bitcoin was up by 0.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was also 0.4% higher.
Power Play:
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.3%, and the iShares US Technology ETF (IYW) was 0.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.4%.
i3 Verticals (IIIV) shares were up more than 20% in recent premarket activity after the company said late Wednesday that it agreed to sell its merchant of record payments business and associated proprietary technology to Payroc for $440 million in an all-cash deal.
Winners and Losers:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.5%, 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) slipped 0.01%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.
Levi Strauss (LEVI) shares extended declines in pre-market activity on Thursday to more than 15% after the company reported overnight a sales miss in fiscal Q2, taking the shine out of its earnings beat.
Health Care
The Health Care Select Sector SPDR Fund (XLV) edged down 0.01%. The Vanguard Health Care Index Fund (VHT), the iShares US Healthcare ETF (IYH), and the iShares Biotechnology ETF (IBB) were inactive.
Walgreens Boots Alliance (WBA) shares fell more than 15% in premarket activity after the company reported lower fiscal Q3 adjusted net earnings and cut its forecast for fiscal 2024 adjusted earnings.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.1%.
Pembina Pipeline (PBA) shares fell nearly 4% before Thursday's opening bell after the company said late Wednesday it had agreed to issue $950 million of senior unsecured medium-term notes.
Financial
Financial Select Sector SPDR Fund (XLF) retreated 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was inactive.
Hut 8 (HUT) stock was up nearly 2% pre-bell Thursday after the company said it is slated to join the Russell 3000 Index following the 2024 annual reconstitution, effective July 1st.
Industrial
Industrial Select Sector SPDR Fund (XLI) declined 0.4% and the Vanguard Industrials Index Fund (VIS) was inactive, while the iShares US Industrials ETF (IYJ) was inactive.
Lindsay (LNN) shares fell more than 2% before the opening bell after the company reported lower fiscal Q3 revenue, trailing analyst estimates.
Commodities
Front-month US West Texas Intermediate crude oil advanced 0.4% to $81.24 per barrel on the New York Mercantile Exchange. Natural gas was 0.8% higher at $2.77 per 1 million British Thermal Units. United States Oil Fund (USO) gained 0.7%, while the United States Natural Gas Fund (UNG) also rose 0.7%.
Gold futures for August gained 0.5% to $2,325.20 an ounce on the Comex, while silver futures slipped 0.1% to $29.23 an ounce. SPDR Gold Shares (GLD) advanced 0.7%, and iShares Silver Trust (SLV) was 0.3% higher.
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