The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.1% in Tuesday's premarket activity, as oil prices slipped amid optimism for diplomacy in the US-Iran conflict.
US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures gaining 0.3%, and Nasdaq futures gaining 0.1% before the start of regular trading.
The Richmond Fed's business conditions readings for September are scheduled for 10:00 am ET.
New York Fed President John Williams is due to speak at 10:05 am ET, followed by Fed Vice Chair Philip Jefferson at 10:20 am ET and Richmond Fed President Tom Barkin at 1:00 pm ET.
In premarket action, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated 0.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.
Power Play:
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was 0.3% higher, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was inactive, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rose 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was higher by 1.2%.
Alibaba (BABA) shares were up 3% pre-bell after the company said its newest Zhenwu V900 AI training and inference processor delivers triple the performance of its previous model.
Winners and Losers:
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) fell 0.2%, the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was up 0.01%.
Eli Lilly (LLY) stock was down 2% premarket after competitor Viking Therapeutics (VKTX) reported that its injectable weight loss drug outperformed placebo in maintaining weight over 12 weeks with reduced dosing frequency, raising its stock by 37%.
Financial
The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% lower.
UBS Group (UBS) shares traded down 1.5% in early hours activity after the bank agreed to pay 5 million euros ($5.7 million) to settle Dutch criminal charges concerning improper tax filings by former Credit Suisse customers.
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
Rocket Lab (RKLB) stock was up over 3% before the opening bell after closing at an 8.2% gain the previous day.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, the iShares US Technology ETF (IYW) was 0.2% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 1%.
Valens Semiconductor (VLN) shares were up over 6% in premarket activity after the company reported it is working with Onsemi (ON) on a cost-effective integrated sensor for 3-megapixel automotive camera applications.
Energy
The iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1.2%.
ExxonMobil (XOM) stock was down more than 1% before the market open after closing 3.2% lower in the prior session.
Commodities
Front-month US West Texas Intermediate crude oil retreated by 2.6% to $93.30 per barrel on the New York Mercantile Exchange. Natural gas was down 0.1% to $2.83 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 2%, while the United States Natural Gas Fund (UNG) was 0.5% higher.
Gold futures for November retreated by 0.6% to $4,358.40 an ounce on the Comex. Silver futures lost 0.5% to $66.10 an ounce. SPDR Gold Shares (GLD) was down by 0.1%, and the iShares Silver Trust (SLV) fell by 0.3%.