The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.02% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Tuesday's premarket activity, amid economic data releases.
US stock futures were also lower, with S&P 500 Index futures down 0.04%, Dow Jones Industrial Average futures slipping 0.07%, and Nasdaq futures retreating 0.05% before the start of regular trading.
US gross domestic product grew at a 4.3% annual rate in Q3, exceeding expectations for a 3.3% increase and accelerating from a 3.8% rise in Q2.
US personal consumption expenditures prices rose 3.5% in Q3, topping forecasts for a 2.7% increase and up from a Q2 rise of 2.5%.
New orders for US durable goods fell 2.2% in October, a steeper decline than the 1.5% decrease expected, following a revised 0.7% increase in the prior month.
The Philadelphia Fed's December non-manufacturing activity index fell to negative 16.8, weaker than expectations for negative 15.0 and compared with negative 16.3 previously.
The Federal Reserve's monthly index of industrial production will be released at 9:15 am ET, followed by the Consumer Confidence report for December and the November new home sales at 10 am ET.
In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) retreated by 0.8%, Ether ETF (EETH) declined by 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.02% lower.
Power Play:
Energy
The iShares US Energy ETF (IYE) was 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.
Sable Offshore (SOC) stock was up more than 18% before Tuesday's opening bell after the company said that the US Department of Transportation Pipeline and Hazardous Materials Safety Administration has approved its restart plan for the Las Flores Pipeline System.
Winners and Losers:
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.01%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.
Novo Nordisk (NVO) stock was up more than 8% premarket after the company said late Monday the US Food and Drug Administration approved the pill form of its Wegovy obesity drug.
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3% while the Vanguard Industrials Index Fund (VIS) was up 0.7% and the iShares US Industrials ETF (IYJ) was flat.
ZIM Integrated Shipping Services (ZIM) stock was up more than 8% before the opening bell after the company said late Monday its board of directors is reviewing competitive takeover proposals from multiple strategic parties as part of an advanced strategic review, but has rejected a revised offer from a management-led group as undervaluing the company.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) was 0.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.01%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.2%, while the iShares Semiconductor ETF (SOXX) declined by 0.2%.
Parsons (PSN) shares were up more than 3% in recent premarket activity after the company said that it was selected by VIA Metropolitan Transit Authority to complete the Advanced Rapid Transit program's final design for the VIA Rapid Silver Line in San Antonio, Texas.
Financial
The State Street Financial Select Sector SPDR ETF (XLF) was flat. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% higher.
BitMine Immersion Technologies (BMNR) shares were down more than 1% pre-bell. The company said Monday its ether holdings reached about 4.07 million tokens, representing roughly 3.37% of the circulating supply, as total crypto and cash holdings rose to $13.20 billion.
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.1%. The iShares US Consumer Staples ETF (IYK) retreated 0.01%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.04%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.02% lower.
Commodities
Front-month US West Texas Intermediate crude oil was up 0.2% at $58.16 per barrel on the New York Mercantile Exchange. Natural gas rose 4.7% to $4.15 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.3%, while the United States Natural Gas Fund (UNG) advanced by 2.7%.
Gold futures for February advanced by 1.2% to $4,524.20 an ounce on the Comex, and silver futures rose by 1.6% to $69.65 an ounce. SPDR Gold Shares (GLD) was up 1.2%, and the iShares Silver Trust (SLV) was 1.8% higher.
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