The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Tuesday's premarket activity, ahead of big tech earnings releasing later in the day.
US stock futures were also mixed, with S&P 500 Index futures up 0.05%, Dow Jones Industrial Average futures advancing 0.04%, and Nasdaq futures slipping 0.05% before the start of regular trading.
The June existing home sales report and the Richmond Fed Manufacturing Index will be released at 10 am ET.
In premarket action, bitcoin was down by 2.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.4% lower.
Power Play:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.3%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.1%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.
Polaris (PII) shares declined 11% pre-bell after the company reported lower Q2 financial results and cut its 2024 adjusted earnings and revenue guidance.
Winners and Losers:
Technology
Technology Select Sector SPDR Fund (XLK) was down 0.1%, and the iShares US Technology ETF (IYW) was marginally lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was flat, while the iShares Semiconductor ETF (SOXX) declined by 0.7%.
NXP Semiconductors (NXPI) shares fell more than 7% in recent Tuesday premarket activity after the Dutch chipmaker issued a downbeat Q3 outlook as profit and revenue in the prior three-month period fell from a year earlier.
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.5%. The Vanguard Health Care Index Fund (VHT) was up 0.5% while the iShares US Healthcare ETF (IYH) gained 0.2%. The iShares Biotechnology ETF (IBB) was 0.2% higher.
Danaher (DHR) stock was up more than 6% premarket after the company reported higher-than-expected Q2 financial results.
Financial
Financial Select Sector SPDR Fund (XLF) gained 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.
MSCI (MSCI) shares were up nearly 6% premarket after the company reported higher Q2 financial results.
Energy
The iShares US Energy ETF (IYE) added 1.7%, while the Energy Select Sector SPDR Fund (XLE) was down by 0.3%.
Woodside Energy Group (WDS) stock was down more than 3% before Tuesday's opening bell after the company said its acquisition of Tellurian (TELL) would include Tellurian's US Gulf Coast Driftwood LNG development.
Industrial
Industrial Select Sector SPDR Fund (XLI) was flat while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
Pentair (PNR) stock gained 6.2% before the opening bell after the company reported higher year-over-year financial results.
Commodities
Front-month US West Texas Intermediate crude oil lost 0.6% to $77.97 per barrel on the New York Mercantile Exchange. Natural gas fell 1.3% to $2.22 per 1 million British Thermal Units. United States Oil Fund (USO) declined 0.5%, while the United States Natural Gas Fund (UNG) was 1.4% lower.
Gold futures for December were up 0.6% to $2,457.20 an ounce on the Comex, while silver futures fell 0.2% to $29.26 an ounce. SPDR Gold Shares (GLD) gained 0.4%, and iShares Silver Trust (SLV) was 0.4% lower.
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