Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Thursday Amid Corporate Earnings Deluge
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 0.7% in Thursday's premarket activity as the corporate earnings deluge continues.US stock futures were mixed, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures slipping 0.3% before the start of regular trading.Challenger, Gray & Christmas reported earlier Thursday that layoff intentions declined in July from both June and the previous month, but the technology sector still led the total and artificial intelligence was the key reason listed for the fifth straight month.The weekly jobless claims bulletin showed 199,000 new unemployment claims for the week ended Aug. 1, compared with the upwardly revised figure of 198,000 in the prior week, and it came in above the 205,000 expected, according to estimates compiled by Bloomberg.Q2 nonfarm productivity increased at a 1.4% annual rate, above forecasts for 0.6%, while unit labor costs increased 1.3%, compared with the 2.1% rise expected.Wholesale inventories data for June are due to be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.Federal Reserve St. Louis President Alberto Musalem is slated to speak on Thursday.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) retreated 0.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was inactive, the iShares US Technology ETF (IYW) was 0.5% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 1.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 0.1%, while the iShares Semiconductor ETF (SOXX) fell by 1%.SiTime (SITM) shares were up more than 27% in premarket activity after the company reported higher Q2 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.7%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was 0.5% higher.Insmed (INSM) stock was up more than 26% premarket after the company reported higher Q2 revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) was inactive, and the iShares US Industrials ETF (IYJ) was up 0.3%.LegalZoom (LZ) stock was down 26% after the company cut its fiscal 2026 revenue guidance and announced a 13% companywide workforce reduction.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.6% lower.Fiserv (FISV) shares were down 12% in early hours activity after the company reported lower Q2 adjusted earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.6% and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) and the VanEck Retail ETF (RTH) were flat, while the State Street SPDR S&P Retail ETF (XRT) was 0.4% higher.Diageo (DEO) shares were up more than 4% pre-bell after the company reported higher fiscal 2026 preliminary adjusted earnings.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.4%.ConocoPhillips (COP) stock was up more than 2% before market open after the company said that Chief Financial Officer Andy O'Brien will succeed Ryan Lance as president and chief executive officer, effective Sept. 1.CommoditiesFront-month US West Texas Intermediate crude oil gained by 1.5% to reach $76.35 per barrel on the New York Mercantile Exchange. Natural gas was down 1.3% at $2.65 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 1.4%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for November advanced by 0.6% to $4,329.00 an ounce on the Comex. Silver futures lost 0.5% to reach $61.97 an ounce. SPDR Gold Shares (GLD) was up by 3%, and the iShares Silver Trust (SLV) was 4.4% higher.
