08:43 AM EDT, 07/01/2025 (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 0.2% lower in Tuesday's premarket activity amid internal GOP debates on US President Donald Trump's fiscal plan and looming tariff concerns.

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

Federal Reserve Chair Jerome Powell is slated to discuss monetary policy at the European Central Bank's annual forum in Portugal at 9:30 am ET.

The S&P Global final US manufacturing PMI will be released at 9:45 am ET, followed by the May Job Openings and Labor Turnover Survey, the ISM manufacturing index for June, and the construction spending bulletin for May at 10 am ET.

In premarket activity, bitcoin was down by 1.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.7% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated marginally by 0.04%. The Vanguard Health Care Index Fund ( VHT ) was down 0.6% while the iShares US Healthcare ETF ( IYH ) rose 1.7%. The iShares Biotechnology ETF (IBB) was flat.

Dyne Therapeutics ( DYN ) stock was down more than 12% premarket after the company said late Monday it has priced an underwritten public offering of about 24.2 million shares at $8.25 each for expected gross proceeds of $200 million.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was flat, while the Vanguard Consumer Staples Fund (VDC) was up 1.2%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.8%. The VanEck Retail ETF ( RTH ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

Tesla (TSLA) shares were down more than 5% pre-bell Tuesday as the feud between President Donald Trump and Chief Executive Elon Musk escalated. Reuters reported that the EV maker's June sales fell for a sixth straight month in Sweden and Denmark.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) declined by 0.02% while the Vanguard Industrials Index Fund ( VIS ) gained 0.2% and the iShares US Industrials ETF ( IYJ ) was inactive.

MSC Industrial Supply (MSM) stock was up more than 3% before the opening bell after the company reported higher-than-expected fiscal Q3 adjusted earnings and net sales.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.2%, and the iShares US Technology ETF ( IYW ) was 0.1% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was up 0.8%, while the iShares Semiconductor ETF (SOXX) declined by 0.5%.

D-Wave Quantum ( QBTS ) shares were up 2% in recent premarket activity after the company said it completed its $400 million "at-the-market" equity offering.

Energy

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

Innovex International ( INVX ) stock was down more than 1% before Tuesday's opening bell after the company said it has completed the divestment of its Subsea Tree product line to Trendsetter Engineering through an all-cash transaction.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 0.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.6% higher.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.8% to reach $65.63 per barrel on the New York Mercantile Exchange. Natural gas declined 0.2% to $3.45 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 1.1% higher, while the United States Natural Gas Fund ( UNG ) fell by 0.7%.

Gold futures for August advanced 1.6% to $3,360.80 an ounce on the Comex, while silver futures were up 1.5% at $36.11 an ounce. SPDR Gold Shares ( GLD ) rose 1.2%, and the iShares Silver Trust ( SLV ) was 0.9% higher.