08:13 AM EDT, 04/30/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) slipped 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% lower in Tuesday's premarket activity, ahead of the Federal Open Market Committee's policy meeting slated to begin later in the day.

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

The Q1 employment cost index will be released at 8:30 am ET, followed by the Case-Shiller Home Price Index for February, and the FHFA House Price Index for February, both at 9 am ET.

The Chicago PMI posts at 9:45 am ET, while the April Consumer Confidence report from The Conference Board will be released at 10 am ET.

In premarket action, bitcoin was down by 2.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.2% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.5%. The Vanguard Health Care Index Fund (VHT) was up 0.2% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was also inactive.

Cyclacel Pharmaceuticals ( CYCC ) shares were up more than 45% premarket following the announcement of a private placement offering of about 5 million shares and warrants expected to generate around $8 million in gross proceeds.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was 0.2% higher, and the Vanguard Consumer Staples Fund (VDC) was marginally advancing. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) advanced 5%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.

Mullen Automotive ( MULN ) shares traded up more than 17% pre-bell after the company said Monday that the California Air Resources Board approved Mullen's all-electric Class 3 low cab forward, the 2024 Mullen THREE, for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project.

Industrial

Industrial Select Sector SPDR Fund (XLI) was 0.2% down and the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

3M ( MMM ) shares gained 6.3% before the opening bell after the company reported higher year-over-year Q1 adjusted earnings.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.5% higher.

HSBC Holdings ( HSBC ) shares were up more than 4% pre-bell Tuesday after the company reported higher Q1 revenue and said its CEO Noel Quinn plans to retire.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) was inactive, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was 1.2% lower, and the iShares Semiconductor ETF (SOXX) was 0.1% down.

Logitech ( LOGI ) shares were up 3% in recent Tuesday premarket activity after the company reported higher fiscal Q4 non-GAAP net income and revenue late Monday.

Energy

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

Cameco ( CCJ ) shares were down 4.3% before Tuesday's opening bell after the company reported lower Q1 financial results compared with a year earlier.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.7% to $83.18 per barrel on the New York Mercantile Exchange. Natural gas advanced by 2.2% to $2.08 per 1 million British Thermal Units. United States Oil Fund (USO) was 0.5% higher, while the United States Natural Gas Fund (UNG) was up 1.5%.

Gold futures for June retreated 1.4% to $2,325.10 an ounce on the Comex, and silver futures were down by 2.7% to $26.93 an ounce. SPDR Gold Shares (GLD) retreated 1%, and iShares Silver Trust (SLV) was 2.1% lower.