The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Thursday's premarket activity as the conflict in the Middle East continues.
US stock futures were lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.3% before the start of regular trading.
US layoff intentions slowed in February to 48,307 from 108,435 in January, with the technology and education sectors posting the largest job-cut expectations, Challenger, Gray & Christmas reported Thursday.
US initial jobless claims totaled 213,000, below expectations for 215,000 and unchanged from the prior week.
US nonfarm productivity increased at a 2.8% annual rate in Q4, exceeding expectations for a 1.9% gain but slowing from a 5.2% rise in Q3.
US import prices gained 0.2% in January, below expectations for a 0.3% increase and matching the prior month's gain.
US export prices rose 0.6% in January, above expectations for a 0.2% gain and in line with the increase recorded in the previous month.
Weekly natural gas stocks inventory data will be released at 10:30 am ET.
Fed Vice Chair for Supervision Michelle Bowman is slated to speak on Thursday.
In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% lower, Ether ETF (EETH) fell by 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.02%.
Power Play:
Technology
The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.04%, and the iShares US Technology ETF (IYW) was 0.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 0.4%, while the iShares Semiconductor ETF (SOXX) was 0.3% lower.
Broadcom (AVGO) shares were up more than 6% in Thursday's premarket activity after the company reported higher fiscal Q1 adjusted earnings and revenue.
Winners and Losers:
Financial
The State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) fell by 1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% higher.
Robinhood Markets (HOOD) shares were up more than 2% pre-bell after the company announced several new products and features to expand its wealth management services.
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) and the iShares US Consumer Staples ETF (IYK) were flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.
Honda Motor (HMC) shares were down more than 2% pre-bell after the company said Thursday it intends to launch sales of two US-built vehicle models in Japan.
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.4%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was i0.1% lower.
Medline (MDLN) stock was down more than 1% premarket after the company said late Wednesday that a secondary offering of its 75 million Class A common shares has been priced at $41 apiece.
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.1%, while the Vanguard Industrials Index Fund (VIS) was flat, and the iShares US Industrials ETF (IYJ) was inactive.
Plug Power (PLUG) stock was down more than 1% before the opening bell after closing the prior session with an 11.2% rise. The company said it will ring Friday's closing bell at the Nasdaq MarketSite in Times Square, New York.
Energy
The iShares US Energy ETF (IYE) rose 1.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.
Canadian Natural Resources (CNQ) stock was up more than 1% before Thursday's opening bell after the company reported higher Q4 revenue.
Commodities
Front-month US West Texas Intermediate crude oil gained by 0.3% to reach $74.76 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.7% to $3.03 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 0.2%, while the United States Natural Gas Fund (UNG) was 1.6% lower.
Gold futures for March advanced 1.1% to $5,177.40 an ounce on the Comex. Silver futures rose by 2.4% to $85.48 an ounce. SPDR Gold Shares (GLD) was up by 1.7%, and the iShares Silver Trust (SLV) rose by 4.2%.
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