The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.1% in Tuesday's premarket activity as traders brace for the first inflation report due this week.
US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.2% before the start of regular trading.
NFIB's December US Small Business Optimism Index rose to 105.1 from 101.7 in November and 91.9 a year earlier.
The December producer price index bulletin will be released at 8:30 am ET.
Federal Reserve Kansas City President Jeffrey Schmid speaks at 10 am ET, followed by New York Fed President John Williams at 3:05 pm ET.
In premarket activity, bitcoin was up by 2.8% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.8% higher.
Power Play:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) gained 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) advanced 0.6%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.
KB Home (KBH) shares were up nearly 10% pre-bell after the company reported better-than-expected fiscal Q4 results and double-digit growth in deliveries and net orders.
Winners and Losers:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.03%. The Vanguard Health Care Index Fund (VHT) was up 0.5% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) gained 0.1%.
REGENXBIO (RGNX) stock was up 8% premarket after the company and Nippon Shinyaku formed a partnership to develop and commercialize RGX-121, a potential treatment for Hunter syndrome, and RGX-111, a treatment for Hurler syndrome.
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% lower.
Farmers & Merchants Bancorp (FMAO) shares were up nearly 3% pre-bell Tuesday, adding to gains from the previous close. The company appointed Andrew Baker as chief strategy officer and promoted Taryn Marino to chief retail banking officer.
Technology
Technology Select Sector SPDR Fund (XLK) advanced 0.4%, and the iShares US Technology ETF (IYW) was 1% higher, while the iShares Expanded Tech Sector ETF (IGM) rose 4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) gained 0.6%.
United Microelectronics (UMC) shares were up 2.6% in recent Tuesday premarket activity after the company said its Fab 12A in Taiwan has been added to the World Economic Forum's Global Lighthouse Network.
Industrial
Industrial Select Sector SPDR Fund (XLI) advanced 0.5% and the Vanguard Industrials Index Fund (VIS) gained 0.03% while the iShares US Industrials ETF (IYJ) was inactive.
United Rentals (URI) stock was up 2.3% before the opening bell and H&E Equipment Services (HEES) shares rose 107% after the companies said that they entered into a definitive agreement under which United Rentals would acquire H&E at $92 per share in cash, for a total enterprise value of about $4.8 billion.
Energy
The iShares US Energy ETF (IYE) was flat, while the Energy Select Sector SPDR Fund (XLE) was up by 0.2%.
BP (BP) stock was down 1.8% before Tuesday's opening bell after the company said it expects "weaker" realized refining margins in Q4 to be between $100 million and $300 million and a higher "impact" from turnaround activity.
Commodities
Front-month US West Texas Intermediate crude oil slipped 0.3% to reach $78.56 per barrel on the New York Mercantile Exchange. Natural gas fell 4.5% to $3.76 per 1 million British Thermal Units. United States Oil Fund (USO) was down 0.2%, while the United States Natural Gas Fund (UNG) was 4% lower.
Gold futures for February advanced 0.1% to $2,680.90 an ounce on the Comex, while silver futures gained 0.2% to reach $30.36 an ounce. SPDR Gold Shares (GLD) increased 0.3%, while the iShares Silver Trust (SLV) was 0.4% higher.
