08:46 AM EDT, 06/24/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Tuesday's premarket activity, ahead of Fed Chair Jerome Powell's testimony.

US stock futures also edged higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 1% before the start of regular trading.

The Q1 current account report showed a deficit of $450.17 billion, compared with $311.97 billion in Q4 and a $445.5 billion estimate.

The Case-Shiller Home Price Index, and the FHFA House Price Index, both for April, are due for release at 9 am ET.

Federal Reserve Chair Jerome Powell will present his semi-annual testimony to the House Financial Services Committee, starting at 10 am ET.

The Conference Board consumer confidence report for June posts at 10 am ET, along with the Richmond Fed Manufacturing Index.

Federal Reserve Cleveland President Beth Hammack, New York President John Williams, Boston President Susan Collins, and Governor Michael Barr speak on Tuesday.

In premarket activity, bitcoin was up by 1.8% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.4%. The Vanguard Health Care Index Fund ( VHT ) gained 0.6% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) was up 0.3%.

Nuvation Bio ( NUVB ) stock was up more than 6% premarket after the company said that taletrectinib has been added as a preferred agent in the updated National Comprehensive Cancer Network clinical practice guidelines for non-small cell lung cancer.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.8%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 2.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 3.2% lower.

Mastercard ( MA ) shares were up 2.5% pre-bell Tuesday, while Fiserv ( FI ) stock was up 4%. Mastercard ( MA ) said it is expanding its partnership with Fiserv ( FI ) to integrate the company's new FIUSD token across Mastercard's ( MA ) global payments network.

Technology

Technology Select Sector SPDR Fund (XLK) advanced 1%, and the iShares US Technology ETF ( IYW ) was 1.5% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was up 1.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 1.7%.

Super Micro Computer ( SMCI ) shares were up nearly 2% in recent premarket activity after the company said it priced a private placement to qualified institutional buyers of $2 billion principal amount of convertible senior notes due 2030.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.6% and the Vanguard Industrials Index Fund ( VIS ) gained 0.5%, while the iShares US Industrials ETF ( IYJ ) was inactive.

Dolby Laboratories ( DLB ) stock was down 1% before the opening bell. The company said Tuesday it has entered a collaboration with Audi to integrate Dolby Atmos in selected models from the German auto manufacturer.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.8%, while the Vanguard Consumer Staples Fund (VDC) was down 0.1%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 1%. The VanEck Retail ETF ( RTH ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

Chewy (CHWY) shares were down 1% pre-bell after the company said late Monday that an upsized public offering of nearly 24 million of its Class A shares by Buddy Chester Sub was priced at $41.95 apiece.

Energy

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

Commodities

Front-month US West Texas Intermediate crude oil fell by 3.3% to $66.23 per barrel on the New York Mercantile Exchange. Natural gas was down 1.8% at $3.63 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 2.9% lower, while the United States Natural Gas Fund ( UNG ) declined by 1.5%.

Gold futures for August retreated 1.7% to $3,337.10 an ounce on the Comex, while silver futures were down 0.3% at $36.41 an ounce. SPDR Gold Shares ( GLD ) fell 1.7%, and the iShares Silver Trust ( SLV ) was 0.4% lower.