In Tuesday's premarket activity, the broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) recorded a slight decrease of 0.1%, while the actively traded Invesco QQQ Trust ($QQQ) also fell by 0.1% as investors took a moment to pause their buying streak and evaluate their purchases. Concurrently, US stock futures were tracking lower: S&P 500 Index futures were down 0.1%, Dow Jones Industrial Average futures slipped by 0.1%, and Nasdaq futures also saw a decline of 0.1% ahead of the regular trading session.
The National Federation of Independent Business Small Business Optimism Index registered an increase, climbing to 93.7 in October from 91.5 in September. Minneapolis Fed President Neel Kashkari is scheduled to speak at 2 pm ET, while Philadelphia Fed President Patrick Harker will follow at 5 pm ET.
In the cryptocurrency market, bitcoin experienced a slight decline of 0.6%, and the ProShares Bitcoin Strategy ETF ($BITO) dropped by 0.5%. Power Play: The Industrial Select Sector SPDR Fund ($XLI) advanced by 0.3%, contrasting with the Vanguard Industrials Index Fund ($VIS), which remained flat, and the iShares US Industrials ETF (IYJ), that was inactive.
Notably, Team ($TISI) stock plummeted by 20% before the market opened after the company reported a wider Q3 adjusted net loss late Monday while also cutting its 2024 revenue guidance. In the Technology sector, the Technology Select Sector SPDR Fund (XLK) saw a retreat of 0.2%, with the iShares US Technology ETF ($IYW) remaining flat, and the iShares Expanded Tech Sector ETF ($IGM.US) slightly rising by 0.1%.
In semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) fell by 0.2%, while the iShares Semiconductor ETF ($SOXX) dropped by 0.8%. In a positive turn, Grab Holdings ($GRAB) shares surged by 7.3% in recent Tuesday premarket activity following a report of Q3 earnings and increased revenue. In the Health Care sector, the Health Care Select Sector SPDR Fund ($XLV) saw a minor decrease of 0.1%.
The Vanguard Health Care Index Fund ($VHT) remained inactive while the iShares US Healthcare ETF ($IYH) decreased by 0.8%. Additionally, the iShares Biotechnology ETF ($IBB) dipped by 0.1%. Wave Life Sciences ($WVE) stock fell by 4.2% in premarket trading after reporting a Q3 loss with no revenue.
In the Financial sector, the Financial Select Sector SPDR Fund (XLF) experienced a drop of 0.2%. Direxion Daily Financial Bull 3X Shares ($FAS.US) fell by 0.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ) rose by 0.7%. UP Fintech Holding ($TIGR) shares decreased by 4.2% ahead of the Tuesday bell after disclosing higher year-over-year operating costs and expenses in Q3.
In Consumer stocks, the Consumer Staples Select Sector SPDR Fund ($XLP) rose marginally by 0.04%, while the Vanguard Consumer Staples Fund ($VDC) remained inactive. The iShares US Consumer Staples ETF ($IYK) also remained inactive, and the Consumer Discretionary Select Sector SPDR Fund ($XLY) fell by 0.2%.
The VanEck Retail ETF ($RTH) was inactive, and the SPDR S&P Retail ETF ($XRT) decreased by 0.4%. Home Depot ($HD) shares rose by 1.6% after reporting fiscal Q3 adjusted earnings and revenue that exceeded forecasts. Energy sector activity witnessed the iShares US Energy ETF ($IYE) gaining 0.6%, while the Energy Select Sector SPDR Fund ($XLE) saw a slight increase of 0.01%.
However, Talos Energy ($TALO) stock fell by 1.5% ahead of Tuesday's opening bell after reporting a Q3 adjusted net loss. In Commodities, the front-month US West Texas Intermediate crude oil rose by 0.7%, reaching $68.49 per barrel on the New York Mercantile Exchange. Natural gas prices dipped by 0.3%, settling at $2.91 per 1 million British Thermal Units.
The United States Oil Fund (USO) saw an increase of 0.5%, while the United States Natural Gas Fund (UNG) dropped by 1%. Gold futures for December fell by 0.3%, settling at $2,611.20 an ounce on the Comex, while silver futures declined by 0.1%, resting at $30.59 an ounce. SPDR Gold Shares ($GLD) decreased by 0.6%, and iShares Silver Trust ($SLV) fell by 0.5%..