The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1% and the actively traded Invesco QQQ Trust (QQQ) was 0.9% higher in Tuesday's premarket activity as reports of potential de-escalation in the Middle East conflict improve risk sentiment despite ongoing volatility in oil markets.
US stock futures were mixed, with S&P 500 Index futures up 1%, Dow Jones Industrial Average futures advancing 1.1%, and Nasdaq futures gaining 1% before the start of regular trading.
The Case-Shiller Home Price Index and the FHFA House Price Index, both for January, will be released at 9 am ET.
The Chicago PMI for March posts at 9:45 am ET, followed by the Conference Board consumer confidence index for March and the Job Openings and Labor Turnover Survey for February, at 10 am ET.
Federal Reserve Chicago President Austan Goolsbee, Kansas City President Jeff Schmid, Governor Michael Barr and Governor Michelle Bowman are slated to speak on Tuesday.
In premarket activity, bitcoin was up by 0.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.
Power Play:
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.9%, while the iShares US Healthcare ETF (IYH) gained by 1.1%. The iShares Biotechnology ETF (IBB) was 0.9% higher.
Apellis Pharmaceuticals (APLS) stock rose more than 140% premarket after Biogen (BIIB) agreed to acquire Apellis for about $5.60 billion in cash plus contingent value rights tied to global net sales of Syfovre. Biogen stock fell more than 2%.
Winners and Losers:
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.2%, while the Vanguard Industrials Index Fund (VIS) gained 3.7%, and the iShares US Industrials ETF (IYJ) was inactive.
T1 Energy (TE) stock was down more than 17% before the opening bell after the company reported a Q4 net loss and lower-than-expected revenue.
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.8% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.5%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.7% higher.
Miniso (MNSO) shares were up more than 8% pre-bell after the company reported higher Q4 adjusted earnings and revenue.
Financial
The State Street Financial Select Sector SPDR ETF (XLF) advanced 1.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 3.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.3% lower.
JPMorgan Chase (JPM) said Tuesday it launched a multiyear investment program to expand domestic economic opportunities across six core areas, including affordable housing and small business development.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.1%, and the iShares US Technology ETF (IYW) was 0.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.3%, while the iShares Semiconductor ETF (SOXX) rose by 1.1%.
Oracle (ORCL) shares were up more than 1% in premarket activity after the company said it will launch an artificial intelligence-powered business system designed for restaurant operations.
Energy
The iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) gained by 0.%.
Eni (E) stock was up more than 1% before Tuesday's opening bell after the company's unit Plenitude said it is expanding its electric vehicle charging infrastructure in Spain.
Commodities
Front-month US West Texas Intermediate crude oil gained by 0.1% to reach $102.98 per barrel on the New York Mercantile Exchange. Natural gas declined by 1.8% to $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) was down by 1%, while the United States Natural Gas Fund (UNG) was 1.3% lower.
Gold futures for March were up by 1.2% at $4,611.60 an ounce on the Comex. Silver futures rose 3.9% to $73.35 an ounce. SPDR Gold Shares (GLD) advanced by 1.8%, and the iShares Silver Trust (SLV) was 4.7% higher.
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