In the latest premarket activity, the broader market exchange-traded fund, SPDR S&P 500 ETF Trust ($SPY), rose by 0.1%; conversely, the actively traded Invesco QQQ Trust ($QQQ) experienced a slight decline of 0.1%. Investors are poised for significant tech earnings announcements later in the day, raising expectations and anticipation in market movements. US stock futures reflected a mixed sentiment, with S&P 500 Index futures advancing by 0.05%.
Meanwhile, Dow Jones Industrial Average futures saw a modest increase of 0.04%, while Nasdaq futures dipped by 0.05% ahead of the commencement of regular trading hours. The day's economic markers also include the June existing home sales report along with the Richmond Fed Manufacturing Index, scheduled for release at 10 am ET. In the cryptocurrency arena, Bitcoin was down 2.3%, and the ProShares Bitcoin Strategy ETF ($BITO) fell by 2.4%, indicating a challenging environment for digital assets in the current market landscape. Analyzing the performance within various sectors: **Consumer Sector**: The Consumer Staples Select Sector SPDR Fund ($XLP) gained 0.3%, while the Vanguard Consumer Staples Fund ($VDC) remained flat.
The iShares US Consumer Staples ETF ($IYK) did not see any movements, contrasting with the Consumer Discretionary Select Sector SPDR Fund ($XLY), which recorded a modest 0.1% gain. Both the VanEck Retail ETF ($RTH) and the SPDR S&P Retail ETF ($XRT) remained inactive. **Winners and Losers**: In the technology sector, the Technology Select Sector SPDR Fund (XLK) dipped by 0.1%, while the iShares US Technology ETF ($IYW) also saw minor declines.
The iShares Expanded Tech Sector ETF ($IGM.US) experienced a drop of 0.4%. Looking specifically at semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) remained flat however, the iShares Semiconductor ETF ($SOXX) experienced a decline of 0.7%. Notably, NXP Semiconductors ($NXPI) shares fell over 7% after the Dutch chipmaker issued a pessimistic outlook for Q3, following a decrease in profits and revenues over the preceding quarter compared to the previous year. **Health Care Insights**: The Health Care Select Sector SPDR Fund ($XLV) recorded a 0.5% increase.
Simultaneously, the Vanguard Health Care Index Fund ($VHT) also rose 0.5%, while the iShares US Healthcare ETF ($IYH) gained 0.2%. The iShares Biotechnology ETF ($IBB) experienced a subtle increase of 0.2%. In a surprising turn, Danaher ($DHR) shares surged over 6% following the announcement of impressive Q2 financial results that exceeded analysts' expectations. **Financials on the Move**: The Financial Select Sector SPDR Fund (XLF) enjoyed a slight increase of 0.1%.
The Direxion Daily Financial Bull 3X Shares ($FAS.US) rose by 0.3%, while the Direxion Daily Financial Bear 3X Shares ($FAZ) saw a minor decrease of 0.1%. MSCI ($MSCI) shares notably shot up nearly 6% in premarket trading following an announcement of stronger Q2 financial results. **Energy Sector Trends**: The iShares US Energy ETF ($IYE) experienced a 1.7% rise; however, the Energy Select Sector SPDR Fund ($XLE) registered a 0.3% decrease.
Woodside Energy Group ($WDS.US) faced a downturn exceeding 3% prior to Tuesday's market opening. This occurred after the company disclosed its acquisition plans for Tellurian ($TELL), which would include Tellurian's US Gulf Coast Driftwood LNG development. **Industrial Performance**: In the industrial category, the Industrial Select Sector SPDR Fund ($XLI) remained flat, while both the Vanguard Industrials Index Fund ($VIS) and the iShares US Industrials ETF (IYJ) showed no activity. **Commodities Watch**: Front-month US West Texas Intermediate crude oil prices dipped 0.6%, settling at $77.97 per barrel on the New York Mercantile Exchange.
Natural gas dropped 1.3% to $2.22 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 0.5%, and the United States Natural Gas Fund (UNG) fell 1.4%. In precious metals, gold futures for December gained 0.6%, rising to $2,457.20 per ounce on the Comex, while silver futures recorded a slight drop of 0.2% to $29.26 per ounce.
SPDR Gold Shares ($GLD) gained 0.4%, contrasting with a 0.4% decline in iShares Silver Trust ($SLV)..