Commodities
Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Renewed Inflation Concerns
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Thursday's premarket activity as rising bond yields and a jump in oil prices renewed inflation concerns.US stock futures were mixed, with S&P 500 Index futures down 0.03%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.In premarket activity, bitcoin was up by 4.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.8% higher, Ether ETF (EETH) advanced 8.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 3.8%.US initial jobless claims fell to a level of 206,000 in the employment survey week ended Aug. 15 from an upwardly revised 212,000 level in the previous week, compared with expectations for a level of 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August after advancing to 41.4 in July, compared with expectations for a decrease to a reading of 24.8 in a survey compiled by Bloomberg.Leading indicators data for July will be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.St. Louis Fed President Alberto Musalem is scheduled to speak Thursday.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% higher.Strategy (MSTR) stock was up more than 10%, Coinbase Global (COIN) shares were up more than 6%, and Circle Internet Group (CRCL) was up 4% as Bitcoin rose above $71,000, continuing its advance from the previous day.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.4%, the Vanguard Health Care Index Fund (VHT) was down 0.6%, while the iShares US Healthcare ETF (IYH) gained 0.9%. The iShares Biotechnology ETF (IBB) was 0.9% lower.Moderna (MRNA) shares were down 7% following a 177% rise at the prior close as a late-stage trial for a skin cancer treatment being developed in partnership with Merck (MRK) yielded positive topline results. Merck was 1% lower after a 13% rise at Wednesday's close.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 1.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 1.1% lower, and the iShares US Consumer Staples ETF (IYK) retreated 0.04%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 1%. The VanEck Retail ETF (RTH) declined 1.5%, while the State Street SPDR S&P Retail ETF (XRT) fell 1.4%.Walmart (WMT) shares were down more than 6% pre-bell after the company's fiscal Q3 guidance trailed analyst expectations.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.7%, the iShares US Technology ETF (IYW) was 0.1% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) retreated 1.1%, while the iShares Semiconductor ETF (SOXX) fell more than 1%.Palo Alto Networks (PANW) shares were down more than 2% in premarket activity after a 3.8% fall at the prior close. The company and NTT DATA said they have signed a multiyear alliance targeting $1 billion in joint business by the end of 2029 to support organizations' adoption of artificial intelligence and modernization of cybersecurity.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.5%, the Vanguard Industrials Index Fund (VIS) was down 0.1%, and the iShares US Industrials ETF (IYJ) was inactive.Navios Maritime Partners (NMM) stock was up more than 1% before the opening bell after the company reported higher Q2 adjusted earnings and revenue.EnergyThe iShares US Energy ETF (IYE) gained 0.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.ExxonMobil (XOM) stock was up more than 1% before market open. Bloomberg reported, citing a company presentation, that ExxonMobil warned that Kazakhstan's Tengiz oil field is nearing peak production and that output will fall sharply over the coming decade.CommoditiesFront-month US West Texas Intermediate crude oil rose by 3.7% to $89 per barrel on the New York Mercantile Exchange. Natural gas was down 2% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 3.5%, while the United States Natural Gas Fund (UNG) was 0.6% lower.Gold futures for November were down by 0.7% at $4,514.70 an ounce on the Comex. Silver futures gained 0.7% to reach $67.03 an ounce. SPDR Gold Shares (GLD) declined 1%, and the iShares Silver Trust (SLV) was 0.1% lower.
Dow JonesNasdaq CompositeS&P 500$BETH$BITO$COIN$CRCL$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MRK$MRNA$MSTR$NMM$PANW$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WMT$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XOM$XRT$XSD