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Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Ahead of Durable Goods, Consumer Confidence Data
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Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Ahead of Durable Goods, Consumer Confidence Data
Mar 26, 2024 5:43 AM

08:17 AM EDT, 03/26/2024 (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 0.5% higher in Tuesday's premarket activity ahead of the US durable goods and consumer confidence data slated for release later.

US stock futures were higher, with S&P 500 futures up 0.4%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.5% before regular trading.

The durable goods orders report for February will be released at 8:30 am ET, followed by the Case-Shiller Home Price Index, and the FHFA House Price Index, both for January, at 9 am ET.

The Conference Board Consumer Confidence report, and the Richmond Fed Manufacturing Index, both for March, will be released at 10 am ET.

In premarket action, bitcoin was down by 0.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) lost 0.5%.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT) was inactive while the iShares US Healthcare ETF (IYH) was slipping 0.9%. The iShares Biotechnology ETF (IBB) was flat.

Ampio Pharmaceuticals ( AMPE ) shares were down more than 29% premarket after the company's late Monday announcement that its board voluntarily decided to delist its common stock from the NYSE American.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.03%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF (IYK) was 0.2% lower, while the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 1% higher.

Krispy Kreme (DNUT) shares traded up more than 19% pre-bell after the company released a joint statement with McDonald's (MCD) saying that Krispy Kreme will supply doughnuts to McDonald's restaurants in the US.

Technology

Technology Select Sector SPDR Fund (XLK) was little changed, while the iShares US Technology ETF (IYW) was 1% up and the iShares Expanded Tech Sector ETF (IGM) was 0.4% higher. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was down 0.2%, while the iShares Semiconductor ETF (SOXX) rose by 1%.

AppFolio ( APPF ) shares were up more than 5% in recent Tuesday premarket activity after S&P Global's (SPGI) S&P Dow Jones Indices said Monday the company will join the S&P MidCap 400.

Financial

Financial Select Sector SPDR Fund (XLF) advanced by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.5% lower.

Waterdrop ( WDH ) was up 3% pre-bell Tuesday after the company reported higher year-over-year financial results and declared a special dividend of $0.04.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.4% and the Vanguard Industrials Index Fund (VIS) added 0.9%, while the iShares US Industrials ETF (IYJ) was inactive.

Elbit Systems ( ESLT ) gained 1.4% before the opening bell after the company reported forecast-beating Q4 financial results.

Energy

The iShares US Energy ETF (IYE) was gaining 0.6% and the Energy Select Sector SPDR Fund (XLE) was up by 0.3%.

Matador Resources ( MTDR ) was down 2.7% before Tuesday's opening bell after the company said late Monday that it priced an offering of about 5.3 million common shares for gross proceeds of about $347.3 million.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.3% to $82.16 per barrel on the New York Mercantile Exchange. Natural gas advanced 0.4% at $1.79 per 1 million British Thermal Units. United States Oil Fund (USO) lost 0.1% and the United States Natural Gas Fund (UNG) was 0.3% lower.

Gold futures for June were 1% higher to $2,220.30 an ounce on the Comex, and silver futures were up 0.3% to $24.96 an ounce. SPDR Gold Shares (GLD) gained 1.2%, and iShares Silver Trust (SLV) advanced 0.2%.

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