In a notable turn of events for the financial markets, the SPDR S&P 500 ETF Trust ($SPY) witnessed an increase of nearly 1%, while the Invesco QQQ Trust ($QQQ) excelled with a rise of 1.1% in Tuesday's premarket trading session. This surge comes as the intense stock selling pressure experienced in the past few days begins to subside, attributed largely to a wave of quarterly earnings reports that are reshaping market sentiments. Additionally, the futures market exhibited similar vigorous movement, with S&P 500 Index futures rising by 0.9%.
The Dow Jones Industrial Average futures also marked an upward trajectory by advancing 0.7%, alongside Nasdaq futures, which gained 1% before regular trading commenced. The upcoming international trade in goods and services bulletin for June is anticipated, with data set to be released at 8:30 am ET, potentially influencing market dynamics further. In the cryptocurrency arena, Bitcoin displayed a promising performance with an uptick of 2.8%.
Furthermore, the ProShares Bitcoin Strategy ETF ($BITO) mirrored this progress, achieving a 2.8% increase in premarket trading. Turning our focus to sector performances, the Health Care sector displayed notable movements as well. The Health Care Select Sector SPDR Fund ($XLV) advanced by 0.4%, while the Vanguard Health Care Index Fund ($VHT) rose modestly by 0.2%.
In contrast, both the iShares US Healthcare ETF ($IYH) and the iShares Biotechnology ETF ($IBB) remained inactive during this period. A standout performer in the healthcare sector was RxSight ($RXST), with its shares skyrocketing over 25% in premarket trading after the company reported second-quarter results that surpassed expectations.
Furthermore, they raised their revenue guidance for 2024, reflecting robust operational momentum. Shifting gears to technology, the Technology Select Sector SPDR Fund (XLK) climbed nearly 2%, while the iShares US Technology ETF ($IYW) experienced a dip, down 2.5%. Conversely, the iShares Expanded Tech Sector ETF ($IGM.US) observed an increase of 1.5%.
Within the semiconductor category, the SPDR S&P Semiconductor ETF ($XSD) advanced by 2%, and the iShares Semiconductor ETF ($SOXX) also saw a rise of 2.2%. In an interesting development, NCR Voyix ($VYX) shares saw an impressive gain, climbing over 11% in the recent Tuesday premarket activities after announcing the agreement to sell its digital banking business for $2.45 billion in cash to an affiliate of Veritas Capital, along with future contingent considerations potentially worth up to $100 million. Looking at consumer sector performance, the Consumer Staples Select Sector SPDR Fund ($XLP) nudged up by 0.5%, while the Vanguard Consumer Staples Fund ($VDC) held steady with no change.
The iShares US Consumer Staples ETF ($IYK) was inactive, but the Consumer Discretionary Select Sector SPDR Fund ($XLY) gracefully gained 0.9%. Other ETFs like the VanEck Retail ETF ($RTH) and the SPDR S&P Retail ETF ($XRT) remained inactive during this timeframe. Celsius Holdings ($CELH) experienced substantial pre-bell trading, with its stock increasing by over 7% following a report of enhanced Q2 earnings and revenue. In terms of energy sector movements, the iShares US Energy ETF ($IYE) decreased by 3.8%, contrasting with the Energy Select Sector SPDR Fund ($XLE), which achieved a modest increase of 0.8%.
Specifically, Marathon Petroleum ($MPC) showed a robust 6% rise in premarket trading after disclosing Q2 adjusted earnings of $4.12 per diluted share, a drop compared to $5.32 per share reported the previous year. Industrial sector stocks were also in the mix, with the Industrial Select Sector SPDR Fund ($XLI) advancing by 1.2%, whereas the Vanguard Industrials Index Fund ($VIS) remained inactive.
Conversely, iShares US Industrials ETF (IYJ) faced a downturn of 5.3%. A notable performer within the industrial sector was Caterpillar ($CAT), whose shares surged almost 5% prior to the opening bell after revealing Q2 adjusted earnings and revenue that exceeded forecasts. In the financial landscape, the Financial Select Sector SPDR Fund (XLF) marked a gain of nearly 1%, with the Direxion Daily Financial Bull 3X Shares ($FAS.US) surging by 2.4%.
In contrast, its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), was down 2.7%. Additionally, Nasdaq ($NDAQ) stock showed a 1.1% increase in pre-bell trading on Tuesday, attributing this gain to the reported US matched equity volume of 39.6 billion shares in July, an increase from the 33.9 billion shares logged in the previous year. Commodities were also active, as West Texas Intermediate crude oil for front-month delivery advanced by 0.1% to reach $73.03 per barrel on the New York Mercantile Exchange.
Natural gas displayed a slight increase of 0.4%, priced at $1.95 per million British Thermal Units. The United States Oil Fund (USO) fell by 1.1%, while the United States Natural Gas Fund (UNG) was reduced by 0.3%. On the precious metals front, gold futures for December delivered a gain of 0.3%, priced at $2,451.20 per ounce on the Comex market, while silver futures experienced a slight decrease of 0.3%, settling at $27.14 per ounce.
In terms of ETF performance, SPDR Gold Shares ($GLD) recorded a modest increase of 0.2%, juxtaposed with a drop of 0.7% in iShares Silver Trust ($SLV). Overall, the market displays a mix of stability and volatility as investors react to earnings and economic indicators, determining their next moves in an ever-evolving financial landscape..