08:20 AM EDT, 05/14/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) advanced marginally by 0.03% while the actively traded Invesco QQQ Trust (QQQ) was down 0.01% in Tuesday's premarket activity, ahead of Federal Reserve President Jerome Powell's speech and the producer price index report.

US stock futures were higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.01% before the start of regular trading.

The National Federation of Independent Business' monthly Small Business Optimism Index rose to a reading of 89.7 in April from 88.5 in March and above the 89 reading a year earlier.

The April producer price index bulletin will be posted at 8:30 am ET.

Federal Reserve Chairman Jerome Powell speaks at the Foreign Bankers' Association meeting in Amsterdam at 10 am ET.

In premarket action, bitcoin retreated 2.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% lower.

Power Play:

Health Care

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

Akoya Biosciences ( AKYA ) was down 22% premarket after the company's Q1 sales missed the estimates of Capital IQ analysts.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was up 4.6%.

On Holding ( ONON ) traded up 12% pre-bell after the company reported higher year-over-year Q1 financial results.

Financial

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

AMTD Idea Group ( AMTD ) shares were 7% higher pre-bell Tuesday after the company filed its annual report for the year ended Dec. 31.

Technology

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

StoneCo ( STNE ) was down nearly 6% in recent Tuesday premarket activity after the company reported lower-than-expected Q1 results.

Industrial

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

Broadwind ( BWEN ) gained 4.6% before the opening bell after the company reported higher Q1 net income compared with the same period a year earlier.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.1%.

Petrobras (PBR) was down 1.9% before Tuesday's opening bell after the company reported lower Q1 results from a year earlier.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.3% to $78.88 per barrel on the New York Mercantile Exchange. Natural gas was down 1.9% at $2.34 per 1 million British Thermal Units. United States Oil Fund (USO) was 0.4% lower, while the United States Natural Gas Fund (UNG) fell by 0.9%.

Gold futures for June advanced 0.3% to $2,349.10 an ounce on the Comex, and silver futures were up 0.5% at $28.60 an ounce. SPDR Gold Shares (GLD) gained 0.3%, and iShares Silver Trust (SLV) was 0.5% higher.