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) retreated 0.1% in Tuesday's premarket activity as investors paused their buying rally to assess purchases.
US stock futures were also lower, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures losing 0.1% before the start of regular trading.
The National Federation of Independent Business Small Business Optimism Index rose to 93.7 in October from 91.5 in September.
Minneapolis Fed President Neel Kashkari speaks at 2 pm ET, and Philadelphia Fed President Patrick Harker at 5 pm ET.
In premarket activity, bitcoin was down by 0.6% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) declined by 0.5%.
Power Play:
Industrial
Industrial Select Sector SPDR Fund (XLI) advanced 0.3% while the Vanguard Industrials Index Fund (VIS) was flat, and the iShares US Industrials ETF (IYJ) was inactive.
Team (TISI) stock was down 20% before the opening bell after the company reported a wider Q3 adjusted net loss late Monday and cut its 2024 revenue guidance.
Winners and Losers:
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was up 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) slipped by 0.2%, while the iShares Semiconductor ETF (SOXX) fell by 0.8%.
Grab Holdings (GRAB) shares were up 7.3% in recent Tuesday premarket activity after the company swung to Q3 earnings and reported 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) was down 0.8%. The iShares Biotechnology ETF (IBB) declined by 0.1%.
Wave Life Sciences (WVE) stock was down 4.2% premarket after the company reported a Q3 loss and no revenue.
Financial
Financial Select Sector SPDR Fund (XLF) was down 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) fell 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.7%.
UP Fintech Holding (TIGR) shares were down 4.2% pre-bell Tuesday after the company reported higher year-over-year operating costs and expenses in Q3.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was marginally higher by 0.04%, 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 0.2%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was down by 0.4%.
Home Depot (HD) shares were up 1.6% pre-bell after the company reported forecast-beating fiscal Q3 adjusted earnings and revenue.
Energy
The iShares US Energy ETF (IYE) gained 0.6%, while the Energy Select Sector SPDR Fund (XLE) was marginally up by 0.01%.
Talos Energy (TALO) stock was down 1.5% before Tuesday's opening bell after the company swung to a Q3 adjusted net loss.
Commodities
Front-month US West Texas Intermediate crude oil gained 0.7% to reach $68.49 per barrel on the New York Mercantile Exchange. Natural gas declined by 0.3% to $2.91 per 1 million British Thermal Units. United States Oil Fund (USO) advanced 0.5%, while the United States Natural Gas Fund (UNG) was down by 1%.
Gold futures for December decreased 0.3% to $2,611.20 an ounce on the Comex, while silver futures retreated 0.1% to $30.59 an ounce. SPDR Gold Shares (GLD) declined by 0.6%, and iShares Silver Trust (SLV) fell by 0.5%.
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