09:06 AM EDT, 07/23/2026 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.6%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Thursday's premarket activity, as a selloff in major technology stocks follows corporate earnings.

US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures retreating 0.3% before the start of regular trading.

US initial jobless claims decreased to a level of 187,000 in the employment survey week ended July 18, the lowest level since 1969, from an upwardly revised 209,000 level in the previous week, compared with expectations for an increase to 210,000 in a survey of analysts compiled by Bloomberg.

Weekly natural gas stocks are due to be released at 10:30 am ET, followed by the Kansas City Fed's manufacturing index for July at 11:00 am ET.

In premarket action, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.9% lower, Ether ETF (EETH) retreated 0.04%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02.

Power Play:

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.7%, the iShares US Technology ETF ( IYW ) was 1.1% lower, and the iShares Expanded Tech Sector ETF ( IGM ) was down 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF ( XSD ) was up 0.1%, while the iShares Semiconductor ETF (SOXX) fell by 1.9%.

STMicroelectronics ( STM ) shares were down more than 13% in premarket activity even after the company reported higher Q2 non-GAAP earnings and revenue.

Winners and Losers:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.3%, and the iShares US Consumer Staples ETF ( IYK ) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 1.8%. The VanEck Retail ETF ( RTH ) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.2% lower.

Tesla (TSLA) shares fell more than 7% pre-bell after the electric vehicle manufacturer reported an unexpected year-over-year decline in its Q2 earnings, weighed down by higher operating expenses related to research and development and artificial intelligence initiatives.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) was down 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.

Ameriprise Financial ( AMP ) shares traded up 2% in early-hours activity after the company reported higher Q2 adjusted earnings and revenue.

Energy

The iShares US Energy ETF ( IYE ) rose 1.2%, while the State Street Energy Select Sector SPDR ETF ( XLE ) was up by 1.8%.

TotalEnergies (TTE) stock was up more than 2% before market open after the company reported higher Q2 adjusted earnings and revenue.

Industrial

The State Street Industrial Select Sector SPDR ETF ( XLI ) advanced 0.1%, the Vanguard Industrials Index Fund ( VIS ) was 0.04% lower, and the iShares US Industrials ETF ( IYJ ) was up 1%.

Union Pacific Railroad (UNP) and Canadian National Railway ( CNI ) shares rose more than 1% before the opening bell after the companies signed a binding memorandum of understanding establishing a framework for CN to secure competitive access in connection with the proposed merger between Union Pacific ( UNP ) and Norfolk Southern ( NSC ) . Norfolk Southern ( NSC ) shares were 0.7% lower.

Health Care

The State Street Health Care Select Sector SPDR ETF ( XLV ) advanced 0.2%, the Vanguard Health Care Index Fund ( VHT ) was up 0.1%, while the iShares US Healthcare ETF ( IYH ) slipped 0.4%. The iShares Biotechnology ETF (IBB) was 0.1% lower.

AstraZeneca ( AZN ) stock was down more than 1% premarket following a 0.2% gain at the prior close. The company said that the European Commission approved its experimental drug, Etcamah, in combination with a CDK4/6 inhibitor, for adults with a type of breast cancer harboring an ESR1 mutation that emerges during first-line endocrine therapy, after the Phase 3 SERENA-6 trial met its primary endpoint.

Commodities

Front-month US West Texas Intermediate crude oil advanced by 4.3% to $90.56 per barrel on the New York Mercantile Exchange. Natural gas was up by 1.1% to $2.96 per 1 million British Thermal Units. The United States Oil Fund ( USO ) was up 4.8%, while the United States Natural Gas Fund ( UNG ) was 1.8% higher.

Gold futures for July retreated 1.5% to $4,087.80 an ounce on the Comex. Silver futures were down 2.5% to $58.81 an ounce. SPDR Gold Shares ( GLD ) decreased 1.7%, and the iShares Silver Trust ( SLV ) was 3% lower.