United States Oil Fund

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday Amid Stalled Iran Peace Efforts, Inflation Concerns

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.03% lower in Monday's premarket activity as stalled diplomatic efforts between the US and Iran fuel concerns about inflation.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.7%, and Nasdaq futures retreating 0.4% before the start of regular trading.The New York Fed's services sector index improved to negative 5.8 in May from negative 14.0 in April, signaling a slower pace of contraction.The National Association of Home Builders' index for May will be released at 10 am ET.The US Treasury's international capital standards report for March will be released at 4 pm ET.In premarket activity, bitcoin was down by 2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.9% lower, Ether ETF (EETH) retreated by 4.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.9%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was flat, and the iShares US Technology ETF (IYW) was 0.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.1%, while the iShares Semiconductor ETF (SOXX) lost 0.4%.LiveRamp (RAMP) shares were up more than 26% in premarket activity after the company agreed to be acquired by Publicis Groupe in an all-cash deal valued at about $2.17 billion. The company also reported higher fiscal Q4 financial results.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was up 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.04%.Dominion Energy (D) shares rose more than 15%, while NextEra Energy (NEE) stock declined over 1% after the companies agreed to merge in an all-stock deal.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.02%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 2% lower. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.3%.Ford Motor (F) shares were up more than 6% pre-bell after the company said it has outlined a revised Europe strategy built around new electric vehicles, commercial software services, and a broader product rollout through 2029.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.1%, while the Vanguard Industrials Index Fund (VIS) retreated 0.01% and the iShares US Industrials ETF (IYJ) was down 0.3%.Ryanair (RYAAY) stock was up more than 4% before the opening bell after the company reported higher fiscal 2026 earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.6%, the Vanguard Health Care Index Fund (VHT) was down 0.8%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was 0.5% lower.ImmunityBio (IBRX) stock rose more than 4% premarket after the company said it signed an exclusive development and supply agreement with Japan BCG Laboratory to get exclusive rights to develop, import, and commercialize the latter's intravesical Tokyo-172 BCG in the US.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% higher.Mizuho Financial (MFG) shares were down more than 4% pre-bell after the company said it had not yet made a final decision on an investment in Rakuten Bank.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.9% to $104.50 per barrel on the New York Mercantile Exchange. Natural gas was up 2.3% at $3.03 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 0.2%, while the United States Natural Gas Fund (UNG) was 2.2% higher.Gold futures for May gained by 0.1% to reach $4,567.60 an ounce on the Comex. Silver futures fell by 0.3% to $77.31 an ounce. SPDR Gold Shares (GLD) advanced by 0.1%, and the iShares Silver Trust (SLV) increased by 0.4%.

TSX Closer: Index Plunges On Concerns Around Elevated Oil Prices and Inflation, Overshadows Pipeline Agreement

The Toronto Stock Exchange closed sharply lower Friday as rising global bond yields sapped investor appetite for equities, with elevated oil prices reigniting concerns around the outlook for higher inflation and with that, overshadowing news of an energy agreement that could see pipeline construction start in oil-rich Alberta within about two years.The resources-heavy S&P/TSX Composite Index closed down 434.92 points, or 1.25%, to 33,833.25, with most sectors lower, led by Base Metals, down 5.5% as gold was lower, and Health Care, down 3.6%.Higher oil price have boosted the Energy sector, which gained 2% on a day when the big local news centered around the Canadian federal government's plans to greenlight Alberta oil pipeline construction in return for oil-sands producers moving ahead with a massive carbon-capture.With a green light from the federal government, Alberta hopes to begin construction on a new oil pipeline as early as fall 2027, with oil flowing by 2033-34,CTV National News reported, while noting there remains no clear private sector investor to pay for it.Prime Minister Mark Carney and Alberta Premier Danielle Smith met in Calgary Friday to sign an updated deal. It outlines that the federal government will work towards designating the pipeline a project of national interest by Oct. 1, with a date of Sept. 1, 2027, for potential construction approval.The deal also raises the effective carbon price for Alberta to $130-a-tonne by 2040, instead of 2030 as previously laid out in the memorandum of understanding (MOU) signed by the pair in November. That deal originally laid out conditions for the new pipeline to the West Coast. Alberta estimates the new pricing will save the industry about $250 billion by 2050.Friday's see headline carbon-emission costs move from a current $95 per tonne to $115 in 2030, $130 by 2035 and $140 by 2040, Alberta's headline carbon price is currently set at $95-a-tonne.But today the impact of the higher oil price outside of Canada dictated how the trading day went.As the conflict in the Middle East is about to enter its twelfth week, the Strait of Hormuz remains largely closed to shipping following the failure of a new round of negotiations between the United States and Iran, noted National Bank in its latest Monthly Economic Monitor. "If the crisis is not resolved, what looms is a multi-faceted supply shock that would put considerable pressure on supply chains, drive inflation upwards beyond the sectors most exposed to energy prices, and likely force several central banks to tighten monetary policy," it said."Of course," National Bank added, "such an outcome is not inevitable, as a negotiated agreement between the two warring parties remains a distinct possibility. Indeed, this is currently factored into our baseline scenario. It is important to note, however, that while a reopening of the strait would lead to better economic outcomes in many regions, it would not resolve all the issues. This is because it would likely take several weeks, or even several months, before maritime traffic could return to its pre-crisis level."National Bank said even if the political impasse were to be resolved relatively quickly, as it still anticipates, the world would not return to its previous growth trajectory. The resilience of the U.S. would likely be more than offset by the weakness of emerging markets in Asia and Europe, and this would result in growth of 3.0% this year and 3.3% next year, it added.Meanwhile, BMO Capital Markets Chief Economist Douglas Porter in his weekly 'Talking Points' note said Canada "has certainly not escaped the global bond sell-off", noting 30-year yields were above 4%. They touched that level on one day in late 2023, but haven't otherwise been there since 2010, he noted. Porter added the "important" five-year yield has jumped to 3.35%, its highest level in almost two years and is now up more than 65 bps since the start of the war. "That will put upward pressure on mortgage rates and further dampen a soggy housing market, thus tightening conditions notably without the Bank of Canada even lifting a finger."Of commodities, West Texas Intermediate crude oil rose 4.2% on fading hopes the U.S. and Iran will reach a deal that will re-open the Strait of the Hormuz as this week's U.S.-China summit meeting ended with mixed messages on ending the war on Iran. WTI oil for June delivery closed up US$4.25 to settle at US$105.42 per barrel, while July Brent oil was up US$3.56 to US$109.28.But gold traded lower by midafternoon Friday as the dollar and yields climbed on concerns around inflation and concerns the rise in oil prices will force central banks to hike interest rates. Gold for June delivery was down $140.90 to US$4,544.40 per ounce.

Update: WTI Oil Rises on Fading Hopes for a Reopening of the Strait of Hormuz

West Texas Intermediate (WTI) crude oil rose 4.2% on Friday on fading hopes for the United States and Iran will reach a deal that will re-open the Strait of the Hormuz as the U.S.-China summit meeting ended with mixed messages on ending the war on Iran.WTI oil for June delivery closed up US$4.25 to settle at US$105.42 per barrel, while July Brent oil was last seen up US$3.56 to US$109.28.A summit meeting between U.S. President Trump and Xi Jinping, Trump's Chinese counterpart, ended with mixed messages from Trump on the war on Iran, the Wall Street Journal reported. The paper said Trump told Fox News the United States does not need to see the Strait reopen, then told reporters both he and Xi want to see the Iran war come to an end, while also saying the Strait needs to to be open as soon a possible."Both sides aligned on the reopening of the Strait of Hormuz. The US readout connected China's energy import needs to the energy disruptions due to the conflict in Iran. Even though the Chinese statement did not even mention energy, China's foreign minister before the start of the second day of the summit called for the reopening of the Strait. Indeed, weeks before the summit, President Xi had already called for a comprehensive ceasefire that would allow normal passage of vessels," Eugenia Victorino, Head of Asia Strategy at SEB Research, noted.Iran closed the Strait to most traffic at the Feb. 28 start to the war launched by the United States and Israel, stranding hundreds of ships in the Persian Gulf and blocking 20% of daily oil demand supplied by regional nations.The blockade of the Strait has pushed oil prices up by half since the start of the war, leaving Asian nations scrambling for physical supply and boosting inflation, raising concerns central banks will need to raise interest rates to cut demand.Hopes for further talks between Iran and the United States continue, with The Guardian reporting Abbas Araghchi, Iran's foreign minister, said that U.S. contacted Iran "to say that they were seeking to continue talks, and that his country (is) prepared to pursue either a diplomatic or militaristic route in order to end the conflict".

June WTI Crude Oil Contract Closes Up US$4.25; Settles at US$105.42 per Barrel

Canada Could Approve Pipeline Construction by the Fall of 2027, Completion by 2034

Canada Could Approve Pipeline Construction by the Fall of 2027, Completion by 2034

Carney Says Proposed West Coast Pipeline Depends Oil Sands Carbon Capture Project. Says Project to Create 50,000 Jobs

Carney Says Proposed West Coast Pipeline Depends Oil Sands Carbon Capture Project. Says Project to Create 50,000 Jobs

PM Carney Says Canada and Alberta to a Carbon Market With Binding Annual Benchmarks, Canada to Issue 75-Million Tonnes of Carbon Contracts to Support Major Carbon Capture,, Clean Energy "

PM Carney Says Canada and Alberta to a Carbon Market With Binding Annual Benchmarks, Canada to Issue 75-Million Tonnes of Carbon Contracts to Support Major Carbon Capture,, Clean Energy "

PM Carney Says Agreement is "Building Trust of Investors That Alberta and Canada Are Reliable and Attractive Destinations Where Opportunities ar Plentiful"

PM Carney Says Agreement is "Building Trust of Investors That Alberta and Canada Are Reliable and Attractive Destinations Where Opportunities ar Plentiful"

Update: -- Smith Says Agreement Will See the Oil Sands Alliance Commit to a Carbon-Capture Project and Will Support Construction of a Bitumen Pipeline to the West Coast

Update: -- Smith Says Agreement Will See the Oil Sands Alliance Commit to a Carbon-Capture Project and Will Support Construction of a Bitumen Pipeline to the West Coast

Prime Minister Mark Carney and Alberta Premier Danielle Smith Agree to Boost Alberta's Industrial Carbon Emissions Pricing to $130 per Tonne by 2040 From a Current $95.00

Prime Minister Mark Carney and Alberta Premier Danielle Smith Agree to Boost Alberta's Industrial Carbon Emissions Pricing to $130 per Tonne by 2040 From a Current $95.00

Sector Update: Energy Stocks Rise Pre-Bell Friday

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The United States Oil Fund (USO) was up 2% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 2.7% higher at $103.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.1% to $107.96 per barrel, and natural gas futures were up 1.9% at $2.95 per million British Thermal Units.Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported. Exxon Mobil stock was 0.5% higher premarket.BP (BP) is contemplating selling certain natural gas assets in Egypt, Reuters reported, citing sources familiar with the matter. BP shares were marginally lower pre-bell.

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Friday Amid Oil Surge, Higher Yields, Geopolitical Uncertainty

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.9% and the actively traded Invesco QQQ Trust (QQQ) was 1.3% lower in Friday's premarket activity as mounting inflation concerns linked to Middle East tensions and stronger oil prices reduce appetite for risk assets.US stock futures were also lower, with S&P 500 Index futures down 1.1%, Dow Jones Industrial Average futures slipping 0.7%, and Nasdaq futures retreating 1.5% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index rose to 19.6 in May from 11.0 in April, compared with expectations of a decrease to a reading of 7.2 in a survey compiled by Bloomberg and the strongest reading in over four years.The industrial production data for April will be released at 9:15 am ET.In premarket activity, bitcoin was down by 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated by 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.03%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.6%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.Babcock & Wilcox Enterprises (BW) stock was down more than 10% before the opening bell after the company said it priced a public offering of roughly 10.8 million common shares at $18.50 apiece, subject to customary closing conditions.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% higher.HSBC (HSBC) shares were down more than 3% pre-bell after the Financial Times reported the bank has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 1%. The VanEck Retail ETF (RTH) gained 1.5%, while the State Street SPDR S&P Retail ETF (XRT) was down 0.7%.Tesla (TSLA) shares retreated more than 2% pre-bell after Reuters reported that the company came under pressure from an Australian judge, who questioned whether the automaker was taking the discovery process seriously in a class action over alleged vehicle defects and misleading claims.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, and the iShares US Technology ETF (IYW) was 1.8% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell by 2.7%, while the iShares Semiconductor ETF (SOXX) declined by 3.1%.Taiwan Semiconductor Manufacturing (TSM) shares declined more than 2% in premarket activity after the company said it plans to reduce its stake in Vanguard International Semiconductor to 19% from 27.1% by selling 152 million shares.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.2% lowerAlumis (ALMS) stock was down more than 1% premarket after the company reported a Q1 net loss and lower revenue.EnergyThe iShares US Energy ETF (IYE) gained by 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.BP (BP) shares retreated by 0.9% pre-bell. Reuters reported that the company is contemplating selling certain natural gas assets in Egypt.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 3.4% to $104.62 per barrel on the New York Mercantile Exchange. Natural gas was up 1.7% at $2.94 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 2%, while the United States Natural Gas Fund (UNG) was 1.5% higher.Gold futures for May retreated by 2.8% to $4,556.20 an ounce on the Comex. Silver futures fell by 7.9% to $78.62 an ounce. SPDR Gold Shares (GLD) was 2.1% lower, and the iShares Silver Trust (SLV) declined by 5.8%.

Oil Prices Rise on Fading Hopes for a Reopening of the Strait of Hormuz

Oil prices rose early on Friday on fading hopes for the United States and Iran will reach a deal that will re-open the Strait of the Hormuz as the U.S.-China summit meeting ended with mixed messages on ending the war on Iran.West Texas Intermediate crude oil for June delivery was last seen up US$3.48 to US$104.65 per barrel, while July Brent oil was up US$2.71 to US$108.43.A summit meeting between U.S. President Trump and Xi Jinping, Trump's Chinese counterpart, ended with mixed messages from Trump on the war on Iran, the Wall Street Journal reported. The paper said Trump told Fox News the United States does not need to see the Strait reopen, then told reporters both he and Xi want to see the Iran war come to an end, while also saying the Strait needs to to be open as soon a possible."Both sides aligned on the reopening of the Strait of Hormuz. The US readout connected China's energy import needs to the energy disruptions due to the conflict in Iran. Even though the Chinese statement did not even mention energy, China's foreign minister before the start of the second day of the summit called for the reopening of the Strait. Indeed, weeks before the summit, President Xi had already called for a comprehensive ceasefire that would allow normal passage of vessels," Eugenia Victorino, Head of Asia Strategy at SEB Research, noted.Iran closed the Strait to most traffic at the Feb. 28 start to the war launched by the United States and Israel, stranding hundreds of ships in the Persian Gulf and blocking 20% of daily oil demand supplied by regional nations.The blockade of the Strait has pushed oil prices up by half since the start of the war, leaving Asian nations scrambling for physical supply and boosting inflation, raising concerns central banks will need to raise interest rates to cut demand.Hopes for further talks between Iran and the United States continue, with The Guardian reporting Abbas Araghchi, Iran's foreign minister, said that U.S. contacted Iran "to say that they were seeking to continue talks, and that his country (is) prepared to pursue either a diplomatic or militaristic route in order to end the conflict".

NY Crude Up 3.4% at US$104.60 and Brent Crude Up 2.75% at Near US$108.60

Brent Crude Up 3.25% at Near US$109.20

Crude Oil Prices Surge as U.S. Statements on China Meeting Renew Focus on Supply Issues

Crude oil prices surged on Friday after U.S. President Donald Trump said he and Chinese President Xi Jinping agreed that Iran cannot have nuclear weapons, returning market focus to the ongoing closure of the Strait of Hormuz.Brent crude at last look jumped 3.1% to US$109.02/barrel and West Texas Intermediate crude gained 3.5% to $104.72/barrel. Besides the U.S.-Iran deadlock and the blocked strait, the market is also concerned about renewed military escalation, Reuters said in a Friday report, citing analysts.Though the strait is still effectively closed, Iran's Revolutionary Guard said 30 vessels had crossed it since Wednesday evening, down from the typical number of 140 vessels before the war but a substantial increase if confirmed, the report said."Oil prices swung several times yesterday but still closed near the day's high," Reuters quoted Yang An, analyst at Haitong Futures, as saying. "Ships passing through the strait eased some market concerns, but not enough to change the strong trend driven by tight supply."

Update: WTI Oil Edges Up Despite Reports Iran is Allowing Chinese Ships to Move Through the Strait of Hormuz

West Texas Intermediate (WTI) crude oil edged higher on Thursday despite reports Iran is allowing Chinese ships to transit the Strait of Hormuz.WTI crude oil for June delivery closed up US$0.15 to settle at US$101.17 per barrel, while July Brent oil was last seen up US$0.10 to US$105.73.The rise follows a Reuters report, citing Iranian state media, that Iran is allowing Chinese ships to move through the blocked Strait of Hormuz, and have allowed 30 vessels to move through the Strait "in recent hours".Iran closed the Strait to most traffic at the Feb. 28 start to the war launched by the United States and Israel, stranding hundreds of ships in the Persian Gulf and blocking 20% of daily oil demand supplied by regional nations.The blockade of the Strait has pushed oil prices up by half since the start of the war. leaving Asian nations scrambling for physical supply and boosting inflation, raising concerns central banks will need to raise interest rates to cut demand. The United States this week reported wholesale and consumer prices surged last month, heightening concerns of higher rates, though the CME FedWatch Tool sees a 97.5% probability the Federal Reserve will leave rates unchanged during the June 17 meeting of its policy committee.Iran's control of the Strait is a key focus of the summit meeting underway between Chinese President Xi Jinping and U.S. President Trump in Beijing. The Wall Street Journal reported the pair agreed the Strait should remain an international waterway and Iran should not be allowed to extract payments from ships passing through the Strait.

June WTI Crude Oil Contract Closes Up US$0.15; Settles at US$101.17 per Barrel

Sector Update: Energy Stocks Edge Higher Pre-Bell Thursday

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally advancing.The United States Oil Fund (USO) was down 0.7% and The United States Natural Gas Fund (UNG) was 0.9% lower.Front-month US West Texas Intermediate crude oil was 0.4% lower at $100.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to reach $105.02 per barrel, and natural gas futures were down 1.4% at $2.82 per 1 million British Thermal Units.Kodiak Gas Services (KGS) shares were down more than 4% after the company priced an underwritten public offering of 10.6 million shares at $71 apiece.Chevron (CVX) agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to ENEOS for $2.17 billion, ENEOS said. Chevron stock was 0.3% lower pre-bell.

Exchange-Traded Funds, Equity Futures Advance Pre-Bell Thursday Amid US-China Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Thursday's premarket activity amid a two-day meeting between the US and China.US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.2% before the start of regular trading.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in a survey of analysts compiled by Bloomberg.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.Business inventory data for March is due to be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In premarket action, bitcoin was down by 10%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT), the iShares US Healthcare ETF (IYH), and the iShares Biotechnology ETF (IBB) were flat.Doximity (DOCS) stock was down more than 10% premarket after the company overnight reported a steeper-than-expected drop in fiscal Q4 adjusted earnings and sales guidance for the next financial year lagged market expectations.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 0.4%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.3%, while the iShares Semiconductor ETF (SOXX) fell by 0.1%.Cisco Systems (CSCO) shares were up more than 15% in premarket activity after the company reported forecast-beating fiscal Q3 results and said it plans to lay off about 4,000 employees, representing around 5% of its workforce.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.3%. The VanEck Retail ETF (RTH) retreated by 0.01%, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.Yeti (YETI) shares were up more than 10% pre-bell after the company reported better-than-expected fiscal Q1 adjusted net income and net sales.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.2%, while the Vanguard Industrials Index Fund (VIS) gained 0.04% and the iShares US Industrials ETF (IYJ) was inactive.Copa (CPA) stock was up more than 3% before the opening bell after the company reported higher Q1 earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) was down 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.02%.Consolidated Edison (ED) stock was down more than 2% before the opening bell. Goldman Sachs raised its price target on the company to $105 from $103 and maintained its sell rating.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.1% to $100.95 per barrel on the New York Mercantile Exchange. Natural gas was down 0.7% to $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 0.7%, while the United States Natural Gas Fund (UNG) was flat.Gold futures for May retreated by 0.1% to $4,700.30 an ounce on the Comex. Silver futures fell by 2.3% to $87.30 an ounce. SPDR Gold Shares (GLD) was 0.2% higher, and the iShares Silver Trust (SLV) declined by 0.8%.