08:21 AM EDT, 09/12/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Thursday's premarket activity, as investors awaited new inflation and labor data to solidify expectations for a quarter-point rate cut next week.

US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.1% before the start of regular trading.

The August producer price index and the weekly jobless claims report will be released at 8:30 am ET. The weekly EIA domestic natural gas supplies bulletin is slated for a 10:30 am ET release.

In premarket activity, bitcoin was up by 0.7% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was 0.6% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.1%. The VanEck Retail ETF ( RTH ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

Caleres ( CAL ) shares were down more than 19% premarket Thursday after the company reported lower fiscal Q2 results and cut its fiscal 2024 guidance.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.2%. The Vanguard Health Care Index Fund ( VHT ) was down 1.8% while the iShares US Healthcare ETF ( IYH ) and the iShares Biotechnology ETF ( IBB ) were inactive.

Moderna ( MRNA ) shares were down nearly 10% premarket after the company said it is reducing its annual R&D expense by about $1.1 billion starting in 2027 in light of "recent commercial challenges."

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.6%.

Viper Energy ( VNOM ) stock was down 4.7% before Thursday's opening bell after the company said late Wednesday it had priced an underwritten public offering of 10 million of its Class A common shares at $42.50 apiece, upsizing it from its initial 8.5 million stock offering.

Technology

Technology Select Sector SPDR Fund ( XLK ) advanced 0.1%, and the iShares US Technology ETF ( IYW ) was 0.1% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was down 0.4%, while the iShares Semiconductor ETF ( SOXX ) declined by 0.1%.

Micron Technology ( MU ) shares were down 3.5% in recent Thursday premarket activity after BNP Paribas Exane downgraded the company's rating to underperform and Raymond James cut its price target to $125 from $160.

Industrial

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

Ryanair Holdings ( RYAOF ) shares were down 2% before the opening bell after Bloomberg reported, citing Chief Executive Officer Michael O'Leary, that the company now expects a potential 10% drop in ticket prices, compared with its earlier expectation of a 5% fall.

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.8% lower.

U.S. Bancorp ( USB ) stock was up 1.8% pre-bell Thursday after the company said the board authorized a stock buyback plan of up to $5 billion of its outstanding common shares, starting Friday, and raised its quarterly dividend by 2%.

Commodities

Front-month US West Texas Intermediate crude oil rose 1.7% to $68.44 per barrel on the New York Mercantile Exchange. Natural gas was up nearly 0.1% at $2.27 per 1 million British Thermal Units. United States Oil Fund ( USO ) was nearly 2% higher, while the United States Natural Gas Fund ( UNG ) declined by 0.1%.

Gold futures for December were up by 0.1% at $2,544.20 an ounce on the Comex, while silver futures were up 0.5% at $29.08 an ounce. SPDR Gold Shares ( GLD ) advanced 0.2%, and iShares Silver Trust ( SLV ) was 0.5% higher.