The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) saw a slight increase of 0.1%, while the actively traded Invesco QQQ Trust ($QQQ) rose by 0.2% in the premarket activity on Tuesday. This uptick came just ahead of the anticipated release of home price index data for July and the US treasury buyback announcement later that day. US stock futures were also on the rise, with S&P 500 Index futures inching up by 0.04%, Dow Jones Industrial Average futures edging higher by 0.1%, and Nasdaq futures gaining 0.1% before regular trading commenced. The home price indicators revealed that the Case-Shiller Home Price Index for July rose modestly by 0.1%, compared to a prior increase of 0.5%.
Meanwhile, the FHFA Home Price Index for the same month also recorded a rise of 0.1%, falling short of the expected 0.2% increase. Additionally, the Consumer Confidence report for September, as provided by the Conference Board, is set to be released at 10 am ET, alongside the Richmond Fed Manufacturing Index for the month. Investors are particularly attentive to the US Treasury buyback announcement, which is scheduled for 11 am ET. In premarket trading, Bitcoin experienced a minor increase of 0.4%, with the ProShares Bitcoin Strategy ETF ($BITO) gaining 0.5%. Power Play updates revealed that the Financial Select Sector SPDR Fund (XLF) experienced a slight retreat, down 0.1%.
The Direxion Daily Financial Bull 3X Shares ($FAS.US) dropped by 0.3%, whereas its bearish counterpart, the Direxion Daily Financial Bear 3X Shares ($FAZ), incrementally advanced by 0.2%. Generations Bancorp ($GBNY) shares surged by over 35% prior to the onset of trading, following the firm’s announcement to Nasdaq regarding its voluntary decision to delist its common shares and withdraw the registration of common stock with the US Securities and Exchange Commission. In the Industrial sector, the Industrial Select Sector SPDR Fund ($XLI) dipped by 0.3%, while the Vanguard Industrials Index Fund ($VIS) saw an increase of 1.1%.
The iShares US Industrials ETF (IYJ) also decreased by 0.6%. On the technology front, the Technology Select Sector SPDR Fund (XLK) rose by 0.2%, while the iShares US Technology ETF ($IYW) gained 0.5%. The iShares Expanded Tech Sector ETF ($IGM.US) advanced by 0.7%. Focusing on semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) remained inactive, while the iShares Semiconductor ETF ($SOXX) saw a rise of 0.8%. Salesforce ($CRM) shares climbed 2% before the trading bell on Tuesday, following Piper Sandler’s upgrade from neutral to overweight and an increase in the stock’s price target from $268 to $325. In the Energy sector, the iShares US Energy ETF ($IYE) remained flat, while the Energy Select Sector SPDR Fund ($XLE) rose by 1.1%.
Conversely, Hawaiian Electric Industries ($HE) stock plummeted by over 12% in the recent Tuesday premarket activity after announcing its pricing of a public offering for approximately 54.1 million shares of its common stock at $9.25 each. Turning to Health Care, the Health Care Select Sector SPDR Fund ($XLV) exhibited a slight decline of 0.1%.
The Vanguard Health Care Index Fund ($VHT) also saw a fractional slip, while the iShares US Healthcare ETF ($IYH) and the iShares Biotechnology ETF ($IBB) retained flat performance. Catalyst Pharmaceuticals ($CPRX) shares advanced by 1.5% in Tuesday's premarket session, following the approval received by its sub-licensee in Japan, DyDo Pharma, from the Ministry of Health, Labor and Welfare to market Firdapse tablets at 10 mg for the treatment of patients with Lambert-Eaton Myasthenic Syndrome in Japan. In consumer goods, the Consumer Staples Select Sector SPDR Fund ($XLP) dipped by 0.1%, whereas the Vanguard Consumer Staples Fund ($VDC) fell by 0.3%.
The iShares US Consumer Staples ETF ($IYK) remained flat, while the Consumer Discretionary Select Sector SPDR Fund ($XLY) managed to gain 0.3%. The VanEck Retail ETF ($RTH) registered inactivity, with the SPDR S&P Retail ETF ($XRT) flat. Liberty Broadband ($LBRDA) shares surged by 23% prior to Tuesday’s trading bell, following its recent submission of a counterproposal concerning its proposed merger with Charter Communications. In commodity markets, the front-month US West Texas Intermediate crude oil price experienced a notable rise of 2.2%, reaching $71.92 per barrel on the New York Mercantile Exchange.
Natural gas saw a slight decline, dropping by 0.3% to $2.61 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 2.6%, while the United States Natural Gas Fund (UNG) fell by 0.7%. Gold futures for December dipped by 0.1%, settling at $2,650.80 an ounce on the Comex, while silver futures rose by 0.3% to $31.18 an ounce.
SPDR Gold Shares ($GLD) saw a slight increase of 0.3%, and iShares Silver Trust ($SLV) gained 1%..