The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) was 0.8% higher in Thursday's premarket activity, ahead of economic data releases sure to be parsed by investors.
US stock futures were also higher, with S&P 500 Index futures up 0.6%, Dow Jones Industrial Average futures gaining 0.3%, and Nasdaq futures advancing 0.9% before the start of regular trading.
Reports slated to release at 8:30 am ET include the personal consumption expenditures-core price index reports, the weekly jobless claims bulletin, and the Q3 GDP final revision report.
The personal income and outlays reports will be posted at 10 am.
The weekly EIA natural gas report is slated to release at 10:30 am, followed by the Kansas City Fed Manufacturing Index for January at 11 am, and the EIA petroleum status report at 12 pm.
In premarket activity, bitcoin was down by 0.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) retreated by 1.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained marginally by 0.01%.
Power Play:
Energy
The iShares US Energy ETF (IYE) was down 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.6% lower.
Venture Global (VG) stock was up more than 10% before Thursday's opening bell after the company said late Wednesday that an international arbitration court ruled in favor of its subsidiary, Venture Global Calcasieu Pass, in a dispute with Repsol LNG over LNG sales from the Calcasieu Pass project.
Winners and Losers:
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.03%. The Vanguard Health Care Index Fund (VHT) was flat, while the iShares US Healthcare ETF (IYH) gained 0.3%. The iShares Biotechnology ETF (IBB) was inactive.
Axogen (AXGN) stock was down more than 7% premarket after the company said Thursday it has priced an upsized underwritten public offering of 4 million common shares at $31 per share for gross proceeds of about $124 million.
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was inactive. The iShares US Consumer Staples ETF (IYK) retreated 0.9%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced 0.03%.
Alibaba Group (BABA) shares were up more than 4% pre-bell after Bloomberg reported the company is planning the initial public offering of its T-Head chipmaking unit.
Financial
The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% lower.
Pinnacle Financial Partners (PNFP) shares were down 4% pre-bell after the company overnight reported Q4 results that fell short of analyst expectations.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 1.4%, while the iShares Semiconductor ETF (SOXX) rose by 1.7%.
ACM Research (ACMR) shares were up more than 2% in recent premarket activity after the company said that it now expects 2025 revenue to be between $885 million and $900 million, compared with its prior range of $875 million to $925 million.
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
Rocket Lab (RKLB) stock was down more than 1% before the opening bell after the company said that a stage 1 tank for its Neutron rocket ruptured during a hydrostatic pressure test.
Commodities
Front-month US West Texas Intermediate crude oil retreated by 1.6% to $59.68 per barrel on the New York Mercantile Exchange. Natural gas rose 9.9% to $5.36 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 1.6%, while the United States Natural Gas Fund (UNG) was 2.6% higher.
Gold futures for February declined by 0.1% to $4,833.40 an ounce on the Comex, and silver futures advanced by 1% to $93.60 an ounce. SPDR Gold Shares (GLD) gained by 0.1%, and the iShares Silver Trust (SLV) was 0.8% higher.
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