Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Ahead of Key Economic Reports

MT Newswires Live
13 Mar

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) declined 0.3% in Thursday's premarket activity, ahead of key economic reports due later.

US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures retreating 0.6% before the start of regular trading.

February's producer price index report and the weekly jobless claims bulletin will be released at 8:30 am ET.

The revised fourth-quarter services survey will be posted at 10 am ET, followed by the weekly EIA natural-gas supplies report at 10:30 am ET.

In premarket action, bitcoin gained marginally by 0.03% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) retreated by 0.1%.

Power Play:

Financial

Financial Select Sector SPDR Fund (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 flat.

First Financial Northwest (FFNW) shares were up more than 16% pre-bell Thursday after the company said overnight that the National Credit Union Administration approved the sale of the company's subsidiary, First Financial Northwest Bank, to Global Federal Credit Union.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.1%. The Vanguard Health Care Index Fund (VHT) advanced 0.4% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was inactive.

Nyxoah (NYXH) stock was up more than 11% premarket Thursday after closing the previous session with a 2.2% decline. The company reported a wider Q4 operating loss and lower revenue.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.2%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.

Dollar General (DG) shares were up more than 5% pre-bell after the company reported higher Q4 net sales that beat FactSet analyst estimates.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.3%, and the iShares US Technology ETF (IYW) was 0.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.3%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) declined 0.1%.

D-Wave Quantum (QBTS) shares were up more than 5% in recent Thursday premarket activity after the company posted an upbeat fiscal Q1 revenue guidance.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) declined marginally by 0.02%.

PBF Energy (PBF) stock was up 1.3% before Thursday's opening bell after the company said late Wednesday its indirect subsidiary, PBF Holding, priced $800 million of 9.875% senior notes due 2030 at 98.563% in a private offering, upsized from $750 million.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.1% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

Canadian Pacific Kansas City (CP) stock was up nearly 1% before the opening bell, continuing from a 1.4% rise in Wednesday's closing. The company said late Wednesday its Canadian Pacific Railway subsidiary will issue $600 million of 4.80% notes due 2030 and $600 million of 5.20% notes due 2035, guaranteed by the parent company.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.3% to $67.47 per barrel on the New York Mercantile Exchange. Natural gas declined 0.2% to $4.09 per 1 million British Thermal Units. United States Oil Fund (USO) was down 0.4%, while the United States Natural Gas Fund (UNG) fell 1.5%.

Gold futures for April advanced 0.3% to $2,956.10 an ounce on the Comex, while silver futures gained 0.02% to $33.75 an ounce. SPDR Gold Shares (GLD) advanced 0.5%, and the iShares Silver Trust (SLV) was 0.1% lower.

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