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Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Producer Inflation Data Release

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The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Thursday's premarket activity amid softer-than-expected July producer prices.

US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.1% before the start of regular trading.

In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) retreated 0.04%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.2% lower.

The US Producer Price Index held steady in July following a 0.1% decrease in June, compared with the 0.2% gain expected in a survey compiled by Bloomberg as of 7:30 am ET.

US initial jobless claims rose to a level of 209,000 in the week ended Aug. 8 from an upwardly revised 200,000 level in the previous week, compared with expectations for a smaller increase to 202,000 in a survey of analysts compiled by Bloomberg.

The weekly natural gas stocks data will be released at 10:30 am ET.

Federal Reserve Cleveland President Beth Hammack, Richmond Fed President Thomas Barkin, and Atlanta Fed President Cheryl Venable speak on Thursday.

Power Play:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was 0.1% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.7% higher.

Birkenstock (BIRK) shares were up more than 11% pre-bell after the company reported higher fiscal Q3 adjusted earnings and revenue.

Winners and Losers:

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.1%, while the Vanguard Industrials Index Fund (VIS) was up 0.4% and the iShares US Industrials ETF (IYJ) was inactive.

Intuitive Machines (LUNR) stock was down more than 9% before the opening bell after the company reported a wider Q2 loss.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, the iShares US Technology ETF (IYW) was 0.03% higher, and the iShares Expanded Tech Sector ETF (IGM) was down 0.02%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was flat, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.

Cisco Systems (CSCO) shares were down more than 6% in premarket activity even after the company reported higher-than-expected fiscal Q4 results and guidance for fiscal Q1 and 2027.

Energy

The iShares US Energy ETF (IYE) was down 0.02% while the State Street Energy Select Sector SPDR ETF (XLE) was 0.3% lower.

Golar LNG (GLNG) stock was up nearly 3% before market open after the company posted higher Q2 net income and operating revenue.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% lower.

Mitsubishi UFJ Financial Group (MUFG) shares were up 2% in early-hours activity after the company said it is launching a proof-of-concept collaboration to bring Japanese government bond repurchase transactions on-chain through Canton Network.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) gained 0.5%. The iShares Biotechnology ETF (IBB) was 0.6% higher.

AbCellera Biologics (ABCL) stock was down more than 1% premarket after the company priced a public offering of shares and pre-funded warrants for expected gross proceeds of about $200 million, the company said Thursday.

Commodities

Front-month US West Texas Intermediate crude oil retreated by 2.1% to $81.54 per barrel on the New York Mercantile Exchange. Natural gas was 0.8% lower at $2.78 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.8%, while the United States Natural Gas Fund (UNG) was 0.1% lower.

Gold futures for November were down by 0.5% at $4,443.40 an ounce on the Comex. Silver futures retreated 0.8% to $65.19 an ounce. SPDR Gold Shares (GLD) was down by 0.6%, and the iShares Silver Trust (SLV) was 0.6% lower.

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Market Chatter: Russia Taps India for Gasoline as Refinery Attacks Deepen Fuel Crunch

Russia has started importing gasoline from India for the first time as it faces severe shortages after repeated Ukrainian strikes on its refineries, according to a Bloomberg report on Tuesday.The first cargo arrived Aug. 5 and was supplied by Nayara Energy, the Rosneft-backed Indian refiner, and reached Russia via a roundabout route involving a ship-to-ship transfer off Egypt, Bloomberg said, citing Kpler data.For the inaugural shipment, the tanker was loaded with 42,000 metric tons of gasoline at India's Vadinar on June 18, according to Bloomberg-compiled data. This was then transferred to another tanker off Egypt's Damietta Port on July 6. It then reached Russia in early August, after almost two months in transit.Indian imports add to fuel already coming from Belarus, highlighting how tight Russia's domestic gasoline supply has become. Analysts estimate Russian refining rates fell about a third below normal in July, and Ukrainian strikes have only intensified since, prompting Moscow to restrict fuel exports to prioritize local demand.The Ministry of Energy of the Russian Federation, India's Ministry of Petroleum and Natural Gas, and Nayara's communications team did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities

US Natural Gas Update: Futures Gain on Warm Weather Ahead of Inventory Data

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Commodities

Alpha Compute Signs $55 Million Term Sheet for Pennsylvania Data Center Project

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