08:29 AM EDT, 09/23/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.01% and the actively traded Invesco QQQ Trust (QQQ) was 0.01% higher in Tuesday's premarket activity as markets traded mixed ahead of Fed Chair Jerome Powell's speech.

US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 0.1% before the start of regular trading.

The US Q2 international current account bulletin will be released at 8:30 am ET.

The S&P Global flash September US composite purchasing managers index report will be released at 9:45 am, followed by the Richmond Fed Manufacturing Index for September at 10 am ET.

Powell will speak at the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon, in Rhode Island, at 12:35 pm ET.

Federal Reserve Governor Michelle Bowman and Fed Atlanta President Raphael Bostic are slated to speak on Tuesday.

In premarket activity, bitcoin was up by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% higher, Ether ETF (EETH) rose 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) advanced 1.2%.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.1%, and the iShares US Technology ETF ( IYW ) was 0.2% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was down 0.3%, while the iShares Semiconductor ETF (SOXX) rose by 0.3%.

Kingsoft Cloud ( KC ) shares were down more than 6% in recent premarket activity after the company said it intends to offer 282 million of its ordinary shares in offshore transactions outside the US.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.1%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.2% higher.

Ares Acquisition Corp. II ( AACT ) shares were up more than 5% pre-bell after the company and Kodiak Robotics said they have raised more than $275 million for their proposed business combination.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) was down 0.3%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.3%. The VanEck Retail ETF ( RTH ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

AutoZone ( AZO ) shares were down more than 3% pre-bell after the company reported lower-than-expected fiscal Q4 adjusted earnings and net sales.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.1%. The Vanguard Health Care Index Fund ( VHT ) was flat, while the iShares US Healthcare ETF ( IYH ) and the iShares Biotechnology ETF (IBB) were inactive.

Elanco Animal Health ( ELAN ) stock was up nearly 1% premarket after the company said the US Food and Drug Administration has approved an updated label for Zenrelia to remove language on the risk of fatal vaccine-induced disease from modified live virus vaccines.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.1% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Boeing ( BA ) stock was up more than 2% before the opening bell after Reuters reported, citing US Democratic Representative Adam Smith, that the company could get purchase commitments from China for more of its aircraft under a deal raised by a group of US lawmakers with top Chinese leaders during their visit to the country.

Energy

The iShares US Energy ETF ( IYE ) was flat, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.4%.

Commodities

Front-month US West Texas Intermediate crude oil rose 1% to $62.93 per barrel on the New York Mercantile Exchange. Natural gas declined 0.9% to $2.78 per 1 million British Thermal Units. The United States Oil Fund ( USO ) was 1% higher, while the United States Natural Gas Fund ( UNG ) declined by 0.9%.

Gold futures for December were up by 1.1% at $3,815.40 an ounce on the Comex, while silver futures gained 0.9% to reach $44.61 an ounce. SPDR Gold Shares ( GLD ) rose 1%, and the iShares Silver Trust ( SLV ) was 0.4% lower.