08:26 AM EDT, 08/13/2024 (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 0.6% higher in Tuesday's premarket activity, as investors focus on the upcoming inflation data releases.

US stock futures were mixed, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.3% before the start of regular trading.

The National Federation of Independent Business's monthly Small Business Optimism Index rose to 93.7 in July, its highest since February 2022, indicating increased optimism among small businesses despite ongoing concerns about inflation and labor costs. Economic improvement expectations saw a boost, but price pressures remain a key issue.

The July producer price index (PPI) will be released at 8:30 am ET.

Atlanta Federal Reserve President Raphael Bostic speaks at 1:15 pm ET.

In premarket action, bitcoin was down by 0.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was also 0.1% lower.

Power Play:

Technology

Technology Select Sector SPDR Fund ( XLK ) gained 0.7%, and the iShares US Technology ETF ( IYW ) was 0.1% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) advanced 0.3%, while the iShares Semiconductor ETF ( SOXX ) rose by 0.5%.

Paysafe ( PSFE ) stock was up nearly 4% in recent Tuesday premarket activity after the company reported higher Q2 results and lifted its 2024 revenue guidance.

Winners and Losers:

Industrial

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

JetBlue Airways ( JBLU ) shares were down more than 5% before the opening bell after the company's credit ratings were cut S&P and Moody's after the carrier said it plans to issue $2.75 billion of new debt secured by its loyalty program, TrueBlue.

Energy

The iShares US Energy ETF ( IYE ) was down by 0.7%, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.6%.

Western Midstream Partners ( WES ) stock was down by nearly 4% before Tuesday's opening bell after the company said late Monday a secondary offering of 19 million common units by affiliates of Occidental (OXY) was priced for gross proceeds of $685.9 million. Occidental was down nearly 1%.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.3%. The Vanguard Health Care Index Fund ( VHT ) , the iShares US Healthcare ETF ( IYH ) and the iShares Biotechnology ETF ( IBB ) was inactive.

Evotec (EVO) shares were up 4.7% premarket after the company said that it made further progress in its collaboration with US drugmaker Bristol-Myers Squibb ( BMY ) on building a molecular glue-based pipeline. Bristol-Myers edged marginally higher.

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.8% lower.

Hut 8 Mining (HUT) stock was down 2% pre-bell Tuesday after the company reported a Q2 net loss and lower-than-expected revenue.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was flat, and the Vanguard Consumer Staples Fund (VDC) was 0.2% lower. The iShares US Consumer Staples ETF ( IYK ) was up 2.5%, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.3%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was up 0.9%.

Home Depot ( HD ) shares traded down 1.1% pre-bell after the company reported lower fiscal Q2 adjusted earnings.

Commodities

Front-month US West Texas Intermediate crude oil retreated by 0.5% to $79.69 per barrel on the New York Mercantile Exchange. Natural gas was up 0.8% at $2.21 per 1 million British Thermal Units. United States Oil Fund ( USO ) rose by 0.1%, while the United States Natural Gas Fund ( UNG ) was 2.3% higher.

Gold futures for December retreated marginally by 0.01% to $2,503.70 an ounce on the Comex, while silver futures were down 0.7% at $27.83 an ounce. SPDR Gold Shares ( GLD ) declined 0.3%, and iShares Silver Trust ( SLV ) was 0.6% lower.