08:34 AM EDT, 05/22/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.3% and the actively traded Invesco QQQ Trust (QQQ) fell 0.3% in Thursday's premarket activity, as investors weigh the potential economic impact of President Trump's proposed tax and spending bill.

US stock futures were mixed, with S&P 500 Index futures were down 0.4%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures falling 0.4% before the start of regular trading.

The weekly jobless claims bulletin and the Chicago Fed National Activity Index for April will be released at 8:30 am ET.

The S&P Global US PMI composite flash for May posts at 9:45 am ET, followed by the existing home sales bulletin for April and the Q1 services survey at 10 am ET.

The weekly EIA natural gas report posts at 10:30 am ET.

New York Federal Reserve President John Williams is slated to speak at 2 pm ET.

In premarket action, bitcoin was up by 2.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.6% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.2%, while the Vanguard Consumer Staples Fund (VDC) was flat.. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.6%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) advanced 0.1%.

Advance Auto Parts ( AAP ) shares were up more than 34% pre-bell after the company reported a narrower-than-expected fiscal Q1 adjusted loss and reaffirmed its fiscal 2025 guidance.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.3%, while the iShares US Technology ETF ( IYW ) and the iShares Expanded Tech Sector ETF ( IGM ) were inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was up 0.8%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.

Snowflake (SNOW) shares were up more than 8% in recent premarket activity Thursday as the cloud-based data platform company lifted its full-year product revenue outlook and reported better-than-expected fiscal Q1 results.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.7%. The Vanguard Health Care Index Fund ( VHT ) slipped 0.2%, while the iShares US Healthcare ETF ( IYH ) was flat. The iShares Biotechnology ETF (IBB) was inactive.

Instil Bio ( TIL ) stock was up more than 8% premarket after the company and ImmuneOnco said they expect to complete enrollment for the phase 2 trial of their non-small cell lung cancer drug 2510 for multiple solid tumors in China by Q3.

Financial

Financial Select Sector SPDR Fund (XLF) decreased 0.5%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 1.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.4% higher.

Lexinfintech ( LX ) shares were up more than 3% pre-bell Thursday after the company reported higher Q1 adjusted net income.

Energy

The iShares US Energy ETF ( IYE ) fell 0.8%, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.8%.

Sable Offshore ( SOC ) stock was down more than 6% before Thursday's opening bell after the company said late Wednesday it priced an underwritten public offering of about 8.7 million common shares at $29.50 per share for expected gross proceeds of $256.5 million.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.4% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

TAT Technologies ( TATT ) stock was up more than 5% before the opening bell after the company said late Wednesday it secured fresh maintenance, repair and overhaul contracts from a major cargo carrier with an estimated value of $40 million to $55 million over the next five years.

Commodities

Front-month US West Texas Intermediate crude oil retreated 1.5% to $60.66 per barrel on the New York Mercantile Exchange. Natural gas was down 1.4% to $3.32 per 1 million British Thermal Units. United States Oil Fund ( USO ) declined 1.1%, while the United States Natural Gas Fund ( UNG ) lost 1.9%.

Gold futures for August retreated 0.4% to $3,327.70 an ounce on the Comex, while silver futures fell 2.3% to $32.87 an ounce. SPDR Gold Shares ( GLD ) declined by 0.30%, and the iShares Silver Trust ( SLV ) was 2.1% lower.