08:20 AM EDT, 07/25/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Thursday's premarket activity, ahead of key economic data releasing before the market opens.

US stock futures were also lower, with the S&P 500 Index futures down 0.2%, the Dow Jones Industrial Average futures slipping 0.1% and the Nasdaq futures declining 0.2% before the start of regular trading.

Washington will release the Q2 US gross domestic product report at 8:30 am ET.

Other reports releasing at the same time are the weekly jobless claims bulletin, the June durable good orders bulletin, the June international trade in goods bulletins, and the retail and wholesale inventories for June.

The Kansas City Fed Manufacturing Index for July posts at 11 am ET.

In premarket action, bitcoin was down by 2.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was 2.4% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.3%. The Vanguard Health Care Index Fund ( VHT ) declined 0.2% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF ( IBB ) gained 0.1%.

West Pharmaceutical (WST) shares were down nearly 15% premarket after the company reported lower Q2 financial results and tempered its outlook for 2024.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund ( XLK ) was flat, and the iShares US Technology ETF ( IYW ) retreated marginally by 0.01%, while the iShares Expanded Tech Sector ETF ( IGM ) was down 0.5%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was 0.4% lower, while the iShares Semiconductor ETF ( SOXX ) fell by 1.1%.

STMicroelectronics ( STM ) stock was down nearly 12% in recent Thursday premarket activity after the company reported lower fiscal Q2 earnings and net revenue.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.4%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF ( IYK ) gained 1.7%, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.2%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was marginally lower at 0.01%.

Hasbro ( HAS ) shares traded up nearly 10% pre-bell after the company reported Q2 adjusted earnings of $1.22 per diluted share, up from $0.49 a year earlier.

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.2% lower.

New York Community Bancorp ( NYCB/PU ) shares were down 7% pre-bell Thursday after the company reported a Q2 loss and lower revenue. The company also said its Q2 net interest income was 38% lower than a year earlier.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.3%.

RPC (RES) stock was up 4.7% before Thursday's opening bell after the company reported lower Q2 results but higher interest income.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) sipped marginally by 0.01% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

RTX (RTX) stock gained 3.1% before the opening bell after the company reported higher Q2 adjusted earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil lost 1.6% to $76.39 per barrel on the New York Mercantile Exchange. Natural gas advanced 0.1% to $2.12 per 1 million British Thermal Units. United States Oil Fund ( USO ) fell 1.5%, while the United States Natural Gas Fund ( UNG ) was nearly 0.1% lower.

Gold futures for December were down 1.9% to $2,418.10 an ounce on the Comex, while silver futures fell 5.4% to $27.72 an ounce. SPDR Gold Shares ( GLD ) lost 1.3%, and iShares Silver Trust ( SLV ) was 4.8% lower.