Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Economic Data, Fed Rate Hike
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1.3% and the actively traded Invesco QQQ Trust (QQQ) was 1.8% higher in Thursday's premarket activity amid economic data releases as traders digest the Federal Reserve's interest rate hike.US stock futures were also higher, with S&P 500 Index futures up 0.8%, Dow Jones Industrial Average futures advancing 0.8%, and Nasdaq futures gaining 1.1% before the start of regular trading.US initial jobless claims fell to a level of 196,000 in the employment survey week ended Sept. 12 from an unrevised 206,000 level in the previous week, compared with expectations for an increase to 207,000 in a survey of analysts compiled by Bloomberg.The Philadelphia Federal Reserve's monthly manufacturing index fell to 37.8 in September after rising to 47.4 in August, compared with expectations for a larger decrease to a reading of 32.1 in a survey compiled by Bloomberg.August housing starts fell by 2.6% from the previous month to a 1.275 million annual rate, below expectations compiled by Bloomberg as of 7:35 am ET for a 1.32 million rate after a decrease to a 1.309 million pace in July.Pending home sales data for August are due to be released at 10 am ET, followed by weekly natural gas stocks data at 10:30 am ET.In premarket activity, bitcoin was up by 0.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was flat, Ether ETF (EETH) advanced 0.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.4% lower.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.3%, while the Vanguard Industrials Index Fund (VIS) was up 0.6% and the iShares US Industrials ETF (IYJ) was flat.Generac (GNRC) stock was 29% higher, a day after the company said it had signed a long-term supply agreement with Amazon (AMZN) to provide backup power generators for data centers.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was 1.2% lower, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.5%.Fluence Energy (FLNC) shares were down 22% after the company lowered its fiscal 2026 revenue guidance, citing ongoing supply chain issues impacting its US production.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.5%, the iShares US Technology ETF (IYW) was 0.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.5%, while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Vicor (VICR) shares were up more than 12% in premarket activity after the company said it granted a nonexclusive license to a new AI original equipment manufacturer licensee with the right to procure Vertical Power Delivery modules covered by company patents from unlicensed suppliers.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.4% lower.Affirm (AFRM) shares were up 5% after the company said it launched a new transformer-based underwriting model that is now live at checkout in the US.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.3% higher.IDEXX Laboratories (IDXX) stock was up more than 1% premarket after the company said it has expanded its Faecal Dx antigen testing platform in the UK to detect taeniid tapeworms, including Taenia and Echinococcus species.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.1%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced 0.6%.Nike (NKE) stock were 1.5% higher after the company said late Wednesday that Alexandre Arnault has been appointed to its board.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.3% to $100.11 per barrel on the New York Mercantile Exchange. Natural gas was down 0.4% at $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 2.3%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for November retreated by 0.1% to $4,385.30 an ounce on the Comex. Silver futures gained by 0.3% to reach $65.09 an ounce. SPDR Gold Shares (GLD) was up by 2.3%, and the iShares Silver Trust (SLV) rose by 3.4%.
