Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Tuesday Amid Underwhelming Economic Data, Renewed Trade Tensions

MT Newswires Live
02-25

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.04% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.1% in Tuesday's premarket activity as markets traded mixed amid underwhelming economic data combined with renewed trade tensions.

US stock futures were also mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures slipping 0.2% before the start of regular trading.

The Case-Shiller Home Price Index, and the FHFA House Price Index, both for December, will be released at 9 am ET.

The Conference Board consumer confidence report, and the Richmond Fed Manufacturing Index, both for February, post at 10 am ET.

Vice Chair Michael Barr speaks at 11:45 am ET and Richmond Fed President Thomas Barkin at 1 pm ET.

In premarket activity, bitcoin was down by 5.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 5.2% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.4%. The Vanguard Health Care Index Fund (VHT) gained 0.02% while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was down 0.02%.

Myriad Genetics (MYGN) stock was down more than 13% premarket after the company reported lower Q4 adjusted earnings and forecast a higher-than-expected Q1 adjusted loss.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) was 0.6% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.01%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) retreated 0.1%, while the iShares Semiconductor ETF (SOXX) declined by 0.2%.

Ultra Clean Holdings (UCTT) shares were down more than 12% in recent Tuesday premarket activity after the company posted downbeat guidance for fiscal Q1 adjusted earnings.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.5% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

V2X (VVX) stock was up more than 5% before the opening bell after the company reported higher Q4 adjusted earnings and revenue.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) gained 0.9%. The iShares US Consumer Staples ETF (IYK) was flat, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.3%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was up 0.5%.

Keurig Dr Pepper (KDP) shares were up 2.6% pre-bell after the company reported higher Q4 adjusted earnings and net sales.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.1%.

Black Stone Minerals (BSM) stock was down 2.3% before Tuesday's opening bell after the company reported lower Q4 net income and revenue.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.

Bank of Montreal (BMO) shares were up 1.2% pre-bell Tuesday after the company reported higher fiscal Q1 adjusted earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.5% to $70.32 per barrel on the New York Mercantile Exchange. Natural gas gained 0.4% to reach $4.01 per 1 million British Thermal Units. United States Oil Fund (USO) declined by 0.8% while the United States Natural Gas Fund (UNG) was flat.

Gold futures for April lost 0.7% at $2,942.60 an ounce on the Comex, while silver futures retreated 1.3% to $32.49 an ounce. SPDR Gold Shares (GLD) were down 0.7%, and the iShares Silver Trust (SLV) was 1.5% lower.

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