The broad market exchange-traded fund SPDR S&P 500 ETF Trust was up 0.6% and the actively traded Invesco QQQ Trust advanced 0.8% in Thursday's premarket activity as strong Nvidia earnings and early hints of a more dovish Fed stance boost investor confidence.
US stock futures were also higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.9% before the start of regular trading.
The weekly jobless claims bulletin, the durable goods orders report for January, and the revised Q4 GDP report will be released at 8:30 am ET.
The pending home sales index for January posts at 10 am ET, followed by the weekly EIA natural gas report at 10:30 am ET.
The Kansas City Fed Manufacturing Index for February posts at 11 am ET.
Kansas City President Jeffrey Schmid speaks at 9:15 am ET, Fed Vice Chair Michael Barr at 10 am ET, Governor Michelle Bowman at 11:45 am ET, Cleveland Fed President Beth Hammack at 1:15 pm ET and Philadelphia Fed President Patrick Harker at 3:15 pm ET.
In premarket activity, bitcoin was up by 2.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF was 2.3% higher.
Power Play:
Financial
Financial Select Sector SPDR Fund advanced 0.8%. Direxion Daily Financial Bull 3X Shares was up 2.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares was 2.2% lower.
Root shares were up more than 18% pre-bell Thursday after the company swung to Q4 earnings amid higher revenue.
Winners and Losers:
Technology
Technology Select Sector SPDR Fund gained 0.7%, and the iShares US Technology ETF was 0.3% higher, while the iShares Expanded Tech Sector ETF was up 0.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF gained 1.6%, while the iShares Semiconductor ETF rose by 1.1%.
Marqeta shares were up over 12% in recent Thursday premarket activity after the company reported a narrower Q4 loss and higher year-over-year revenue.
Health Care
The Health Care Select Sector SPDR Fund advanced 0.2%. The Vanguard Health Care Index Fund gained 0.2%, while the iShares US Healthcare ETF was inactive. The iShares Biotechnology ETF was inactive.
Viatris stock was down more than 7% premarket after the company reported lower Q4 adjusted earnings and revenue.
Consumer
The Consumer Staples Select Sector SPDR Fund was up 0.1%, while the Vanguard Consumer Staples Fund was down 0.2%. The iShares US Consumer Staples ETF was inactive, and the Consumer Discretionary Select Sector SPDR Fund gained 0.7%. The VanEck Retail ETF was inactive, while the SPDR S&P Retail ETF was flat.
Bath & Body Works shares were down more than 3% pre-bell after the company reported lower fiscal Q4 revenue.
Energy
The iShares US Energy ETF was up 0.3%, while the Energy Select Sector SPDR Fund gained 0.7%.
CMB.TECH stock was up 2.7% before Thursday's opening bell after the company reported higher-than-expected Q4 earnings and revenue.
Industrial
Industrial Select Sector SPDR Fund advanced 0.8% while the Vanguard Industrials Index Fund and the iShares US Industrials ETF (IYJ) were inactive.
BW LPG stock was down 2.2% before the opening bell after the company reported lower Q4 earnings and revenue.
Commodities
Front-month US West Texas Intermediate crude oil advanced 1.1% to $69.37 per barrel on the New York Mercantile Exchange. Natural gas declined 0.7% to $3.93 per 1 million British Thermal Units. United States Oil Fund was up 0.8%, while the United States Natural Gas Fund was down 2.5%.
Gold futures for April fell 1.1% to $2,898.80 an ounce on the Comex, while silver futures declined 0.3% to $32.47 an ounce. SPDR Gold Shares were down 1.1%, and the iShares Silver Trust was 0.2% higher.
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