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 Thursday's premarket activity amid expectations that jobs reports will support an argument for interest rate cuts.
US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures losing 0.3% before the start of regular trading.
US companies announced plans to cut 57,727 jobs in November, up from the previous month, with the automotive and tech sectors leading layoffs, according to Challenger, Gray & Christmas on Thursday.
The international trade in goods and services bulletin for October and the weekly jobless claims report will be released at 8:30 am ET.
The weekly EIA natural gas supplies posts at 10:30 am ET.
Federal Reserve President Thomas Barkin speaks at 12:15 pm ET.
In premarket activity, bitcoin was up by 3.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.1% higher.
Power Play:
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) gained marginally by 0.03%, while the iShares Expanded Tech Sector ETF (IGM) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) decreased by 0.03%.
SentinelOne (S) shares were down more than 15% in recent Thursday premarket activity after the company reported lower-than-expected Q3 earnings.
Winners and Losers:
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 0.3%. The iShares Biotechnology ETF (IBB) was inactive.
Mesoblast (MESO) stock was down more than 3% premarket after the company said late Wednesday that the US Food and Drug Administration granted the company's second-generation cell therapy, Revascor, a regenerative medicine advanced therapy designation.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) declined by 0.04%.
Crescent Energy (CRGY) stock was up 3% before Thursday's opening bell after the company said late Wednesday it priced a $400 million private placement of 7.625% senior notes due 2032.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1, 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) was flat. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.
LGI Homes (LGIH) shares were up 2.6% pre-bell after the company said it closed 531 homes in November, including the bulk sale of 103 single-family rental homes.
Financial
Financial Select Sector SPDR Fund (XLF) advanced marginally by 0.04%. Direxion Daily Financial Bull 3X Shares (FAS) was flat, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% higher.
Bank of Montreal (BMO) stock was down 2.3% after the company posted lower fiscal Q4 adjusted earnings.
Industrial
Industrial Select Sector SPDR Fund (XLI) declined by 0.3% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
GMS (GMS) stock was down 1% before the opening bell after the company reported lower fiscal Q2 adjusted net income.
Commodities
Front-month US West Texas Intermediate crude oil declined 0.4% to $68.28 per barrel on the New York Mercantile Exchange. Natural gas gained 1.6% to reach $3.09 per 1 million British Thermal Units. United States Oil Fund (USO) declined by 0.2%, while the United States Natural Gas Fund (UNG) rose by 1.2%.
Gold futures for February retreated 0.1% to $2,673.60 an ounce on the Comex, while silver futures declined 0.3% to $31.83 an ounce. SPDR Gold Shares (GLD) decreased marginally by 0.03%, while the iShares Silver Trust (SLV) was 0.2% lower.
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