The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) rose by 0.7%, while the actively traded Invesco QQQ Trust ($QQQ) gained 0.8% in Thursday's premarket activity, as investors interpreted the US Federal Reserve's remarks about potentially moderating interest rate cuts in the upcoming year, prior to significant economic announcements scheduled for later in the day. US stock futures also showed positive momentum, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.7% ahead of the commencement of regular trading. Key reports to be released at 8:30 am ET include the Q3 gross domestic product index, the jobless claims report, the Philadelphia Fed Manufacturing Index, and the revised Q3 corporate profit figures. Additionally, the existing home sales report is set to be disclosed at 10 am ET, followed by the EIA Natural Gas Report at 10:30 am ET. Later in the day, investors will be looking at the Treasury International Capital posts at 4 pm ET, and the Fed balance sheet release at 4:30 pm ET. In premarket trading, bitcoin saw an increase of 1.5%, while the cryptocurrency fund ProShares Bitcoin Strategy ETF ($BITO) rose 1.7%. Power Play: Consumer The Consumer Staples Select Sector SPDR Fund ($XLP) remained unchanged, while the Vanguard Consumer Staples Fund ($VDC) advanced by 2.8%.
The iShares US Consumer Staples ETF ($IYK) was inactive, with the Consumer Discretionary Select Sector SPDR Fund ($XLY) climbing nearly 1%. Both the VanEck Retail ETF ($RTH) and the SPDR S&P Retail ETF ($XRT) reported inactivity. Lamb Weston Holdings ($LW) experienced a significant decline of over 18% in pre-bell trading after announcing disappointing fiscal Q2 results and reducing its guidance for fiscal 2025.
The company appointed Chief Operating Officer Michael J. Smith as president and chief executive. Winners and Losers: Energy The iShares US Energy ETF ($IYE) remained inactive, while the Energy Select Sector SPDR Fund ($XLE) saw an increase of 0.6%. Verde Clean Fuels ($VGAS) shares surged nearly 9% prior to Thursday's market opening following a commitment from Diamondback Energy ($FANG) subsidiary Cottonmouth Ventures to invest $50 million in Verde by acquiring 12.5 million shares at $4 each. Health Care The Health Care Select Sector SPDR Fund ($XLV) inched up by 0.1%.
The Vanguard Health Care Index Fund ($VHT) and the iShares US Healthcare ETF ($IYH) remained inactive, while the iShares Biotechnology ETF ($IBB) fell by 0.5%. Sangamo Therapeutics ($SGMO) stock increased by over 8% in premarket trading after entering into a licensing deal that grants Astellas Pharma global rights to its neurotropic adeno-associated virus capsid, STAC-BBB, focusing on neurological disease targets. Technology The Technology Select Sector SPDR Fund (XLK) advanced nearly 1%, and the iShares US Technology ETF ($IYW) saw a rise of 0.9%.
The iShares Expanded Tech Sector ETF ($IGM.US) increased by 0.8%. Within the semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) gained 0.9%, while the iShares Semiconductor ETF ($SOXX) edged up by 0.4%. Nvidia ($NVDA) shares fell by more than 2% during the latest premarket activity following news that supplier SK Hynix received up to $458 million in direct funding from the US Department of Commerce under the CHIPS Incentives Program for enhancing commercial fabrication facilities. Industrial The Industrial Select Sector SPDR Fund ($XLI) increased by 0.4%.
Meanwhile, the Vanguard Industrials Index Fund ($VIS) rose by 0.7%, while the iShares US Industrials ETF (IYJ) remained inactive. Lennox International ($LII) shares experienced a pre-bell rise of nearly 2% after S&P Dow Jones Indices announced Wednesday evening that the company will replace Catalent ($CTLT) in the S&P 500, effective before the market opens on December 23. Financial The Financial Select Sector SPDR Fund (XLF) advanced by 0.6%.
Direxion Daily Financial Bull 3X Shares ($FAS.US) rose 1.8%, whilst its bearish counterpart Direxion Daily Financial Bear 3X Shares ($FAZ) dropped by 2.2%. X Financial ($XYF) shares recorded a 1% increase during pre-bell trading after announcing a deal with a significant stockholder to repurchase about 6.3 million American depositary shares, equivalent to approximately 38.1 million Class A shares at $7.67 per ADS for $48.7 million. Commodities Front-month US West Texas Intermediate crude oil dipped 0.2%, settling at $70.42 per barrel on the New York Mercantile Exchange.
Natural gas increased by 3.2% to reach $3.48 per million British Thermal Units. The United States Oil Fund (USO) rose by 0.5%, while the United States Natural Gas Fund (UNG) climbed by 2.4%. Gold futures for February declined 1% to $2,625.70 per ounce on the Comex, alongside silver futures that fell 2.8% to $29.87 per ounce.
SPDR Gold Shares ($GLD) gained 0.6%, whilst the iShares Silver Trust ($SLV) experienced a slight decrease of 0.2%..