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 down 0.1% in Thursday's premarket activity, as markets traded mixed ahead of key jobs data.
US stock futures were also mixed, with S&P 500 Index futures down 0.01%, Dow Jones Industrial Average futures gaining 0.3% and Nasdaq futures slipping 0.2% before the start of regular trading.
US companies planned 75,891 job cuts in August, up from 25,885 in July and higher than 75,151 a year ago, according to Challenger, Gray & Christmas Thursday. Technology led with 39,563 cuts and cost-cutting was the most common reason, accounting for 37,403 layoffs.
The ADP Employment Report for August is due at 8:15 am ET, followed by the weekly jobless claims bulletin and the Q2 productivity and costs report at 8:30 am ET.
The S&P Global US PMI composite final for August posts at 9:45 am ET, and the ISM Services Index for August at 10 am ET.
The weekly EIA natural gas report and the weekly EIA petroleum status report will be posted at 11 am ET.
In premarket action, bitcoin was down 2.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.5% lower.
Power Play:
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.
Babcock & Wilcox Enterprises (BW) shares gained 5.3% before the opening bell after the company said it was awarded a contract for front-end engineering and design for a waste-to-energy project with carbon capture in Alberta, Canada.
Winners and Losers:
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was down 0.1%, while the iShares Semiconductor ETF (SOXX) declined by 0.1%.
Zeta Global Holdings (ZETA) stock was down 4% in recent Thursday premarket activity after the company said late Wednesday it had priced an underwritten public offering of 13.2 million class A common shares at $23.50 per share for gross proceeds of about $204.9 million.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was flat, while the Vanguard Consumer Staples Fund (VDC) was up 1.8%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.5%. The VanEck Retail ETF (RTH) was up by 1.8%, while the SPDR S&P Retail ETF (XRT) was inactive.
Nio (NIO) stock traded up 4% pre-bell after the company reported a narrowed Q2 adjusted loss and higher revenue.
Health Care
The Health Care Select Sector SPDR Fund (XLV) retreated 0.1%. The Vanguard Health Care Index Fund (VHT) was inactive while the iShares US Healthcare ETF (IYH) slipped 0.03%. The iShares Biotechnology ETF (IBB) was inactive.
AstraZeneca's (AZN) shares were down 2% premarket after multiple media outlets reported Thursday, citing unnamed sources, that five current and former AstraZeneca employees have been detained in China amid allegations of potential illegal activities involving patient data collection and the import of an unapproved liver cancer drug.
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was inactive.
Moody's (MCO) shares were up 2% pre-bell Thursday after the company said it bought casualty insurance analytics company Praedicat.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.5%.
Crescent Energy (CRGY) stock was up 1.7% before Thursday's opening bell after the company said late Wednesday its indirect subsidiary, Crescent Energy Finance, priced a $250 million private placement of senior notes due 2033.
Commodities
Front-month US West Texas Intermediate crude oil advanced 0.4% to $69.38 per barrel on the New York Mercantile Exchange. Natural gas was up 0.1% at $2.15 per 1 million British Thermal Units. United States Oil Fund (USO) also gained nearly 1%, while the United States Natural Gas Fund (UNG) was flat.
Gold futures for December gained by 0.8% to $2,545.80 an ounce on the Comex, while silver futures were up 1.7% to $29.04 an ounce. SPDR Gold Shares (GLD) rose 0.9%, and iShares Silver Trust (SLV) was 2% higher.
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