08:28 AM EDT, 03/21/2024 (MT Newswires) -- 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 0.9% higher in Thursday's premarket activity after the Federal Reserve maintained its outlook for three rate cuts this year.

US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.8% before the start of regular trading.

The weekly jobless claims report, the March Philadelphia Fed Manufacturing Index, and the Q4 current account report are all scheduled to be released at 8:30 am ET.

S&P Global's US composite flash purchasing managers index posts at 9:45 am ET, followed by February existing home sales and the Conference Board's February leading indicators report at 10 am ET.

The EIA domestic natural gas supplies bulletin posts at 10:30 am ET, while Federal Reserve Vice Chair Michael Barr speaks at 12 pm ET.

In premarket action, bitcoin was up by 2.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher.

Power Play:

Financial

Financial Select Sector SPDR Fund (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 down by 1%.

Lufax Holding ( LU ) was up 42% pre-bell Thursday even after the company reported a wider Q4 loss and lower year-over-year revenue, with both results trailing analysts' estimates.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) was flat. The Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) gained 0.5%.

Carmell ( CTCX ) was up 10% premarket after the company said late Wednesday it executed an agreement to sell its unit, Axolotl Biologix, which it acquired for $65 million in August 2023.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up by 0.1%, while the Vanguard Consumer Staples Fund (VDC) was 0.04% higher. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.4%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was also inactive.

Li Auto ( LI ) was down 6.6% pre-bell after the company cut its outlook for Q1 vehicle deliveries to between 76,000 and 78,000, from its previous forecast of 100,000 to 103,000 vehicles.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.3%. The Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

Commercial Metals ( CMC ) gained 2.4% before the opening bell after the company said it expects adjusted earnings before interest, taxes, depreciation, and amortization to "approach" breakeven levels during Q3.

Technology

Technology Select Sector SPDR Fund (XLK) was up by 0.7%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 2.5%.

Accenture ( ACN ) was down nearly 5% in recent Thursday premarket activity after the company lowered its fiscal 2024 revenue growth and adjusted earnings forecast.

Energy

The iShares US Energy ETF (IYE) was 0.4% higher, while the Energy Select Sector SPDR Fund (XLE) was 0.2% lower.

U.S. Energy ( USEG ) was up 2% before Thursday's opening bell after the company said its board approved an extension of up to $5 million to its previously approved share buyback plan.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.6% at $80.87 per barrel on the New York Mercantile Exchange. Natural gas fell 1.1% to $1.68 per 1 million British Thermal Units. United States Oil Fund (USO) lost 0.8%, while the United States Natural Gas Fund (UNG) was 1% lower.

Gold futures for June advanced 2.2% to reach $2,230.50 an ounce on the Comex, and silver futures were up 2.2% at $25.66 an ounce. SPDR Gold Shares (GLD) were up 1.1%, and iShares Silver Trust (SLV) was 0.1% lower.