Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Expected Economic Data Gaps

MT Newswires Live
Nov 13

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 investors weighed the effects of missing economic data after the US government ended its longest shutdown.

US stock futures were mixed, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.

October's consumer price index report, which was originally slated for an 8:30 am ET release, may not be released, according to the White House.

The EIA petroleum status report will be posted at 12 pm ET.

Federal Reserve St. Louis President Alberto Musalem and Cleveland President Beth Hammack are slated to speak on Thursday.

In premarket activity, bitcoin was up by 1.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher, Ether ETF (EETH) advanced 2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) rose 3%.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) and the Vanguard Consumer Staples Fund (VDC) were flat. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.02%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.

Dillard's (DDS) shares were up more than 8% pre-bell after the company posted higher fiscal Q3 earnings and revenue.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was 0.3% lower, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) declined 0.3%, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.

Cisco Systems' (CSCO) shares were up more than 6% in recent premarket activity after the company reported fiscal Q1 earnings and sales above market expectations.

Industrial

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

Broadwind (BWEN) stock was up more than 10% before the opening bell after the company reported higher Q3 net income and revenue.

Health Care

The Health Care Select Sector SPDR Fund (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) gained 0.2%.

EnGene (ENGN) stock was up more than 3% premarket after the company priced an underwritten public offering of 12.6 million shares at $8.50 per share and pre-funded warrants to purchase 2.7 million shares at $8.4999 per warrant for total expected gross proceeds of $130 million.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.01%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% higher.

Accelerant (ARX) shares were up more than 2% pre-bell after the company reported higher Q3 revenue.

Energy

The iShares US Energy ETF (IYE) was flat, while the Energy Select Sector SPDR Fund (XLE) was up by 0.2%.

TotalEnergies (TTE) stock was up more than 1% before Thursday's opening bell after Bloomberg News reported Wednesday that the company is contemplating selling some renewable energy assets in Asia in a bid to pare debt.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.7% to reach $58.90 per barrel on the New York Mercantile Exchange. Natural gas was down 0.6% at $4.51 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced by 0.6%, while the United States Natural Gas Fund (UNG) was 0.5% lower.

Gold futures for December gained by 0.7% to reach $4,242.00 an ounce on the Comex, and silver futures were up 1% at $53.98 an ounce. SPDR Gold Shares (GLD) advanced by 0.8%, and the iShares Silver Trust (SLV) was nearly 1% higher.

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