08:41 AM EDT, 04/08/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 1.8% and the actively traded Invesco QQQ Trust (QQQ) was 1.6% higher in Tuesday's premarket activity as potential tariff discussions between Japan and the US lifted investor hopes.

US stock futures were also higher, with S&P 500 Index futures up 1.6%, Dow Jones Industrial Average futures advancing 2%, and Nasdaq futures gaining 1.5% before the start of regular trading.

The National Federation of Independent Business Small Business Optimism Index declined to 97.4 in March, marking a third consecutive monthly drop but remaining above year-earlier levels.

In premarket activity, bitcoin was up by 1.6% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) advanced 2.4%, and the iShares US Technology ETF ( IYW ) was 1.2% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was up 1.6%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) gained 1.8%, while the iShares Semiconductor ETF (SOXX) rose by 2.8%.

United Microelectronics ( UMC ) shares were up more than 5% in recent Tuesday premarket activity after the company reported that its net sales were 19.86 billion New Taiwan dollars ($601.2 million) in March, up 9.3% from a year earlier.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 1.3%, while the Vanguard Consumer Staples Fund (VDC) gained 0.2%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) rose 1.9%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was 2.3% higher.

Tesla (TSLA) shares were up more than 3% pre-bell, reversing the 2.6% fall at the prior close. Chief Executive Elon Musk appealed directly to President Donald Trump to reverse course on tariffs over the weekend, the Washington Post reported Monday, citing two unnamed people familiar with the matter.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 3.1%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 8.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 8.9% lower.

Stifel Financial ( SF ) shares were up more than 3% pre-bell Tuesday after the company said late Monday it completed the acquisition of 36 B. Riley (RILY) employee advisers, representing assets under management of about $4 billion.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 2.4%. The Vanguard Health Care Index Fund ( VHT ) was up 1.8% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) advanced 1.4%.

Johnson & Johnson ( JNJ ) stock was up more than 2% premarket after the company said that the latest results from a trial of the investigational nipocalimab plus standard of care administered to adults with generalized myasthenia gravis showed "maintained improvements" over 84 weeks.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 1.7%, while the Vanguard Industrials Index Fund ( VIS ) gained 3.8%. The iShares US Industrials ETF ( IYJ ) was inactive.

BW LPG ( BWLP ) stock was up 1.9% before the opening bell after the company said it launched a program to repurchase up to 3 million shares for up to $20 million from the open market, effective immediately.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 2.4%.

Phillips 66 (PSX) stock was up 1.6% before Tuesday's opening bell after the company asked its shareholders Tuesday to reject activist investor Elliott Investment Management's attempt to change the leadership and strategy of the company, according to a definitive proxy statement.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.2% to reach $60.79 per barrel on the New York Mercantile Exchange. Natural gas advanced 0.9% to $3.69 per 1 million British Thermal Units. United States Oil Fund ( USO ) lost 0.1%, while the United States Natural Gas Fund ( UNG ) was 2% higher.

Gold futures for June rose 1.9% to $3,028.80 an ounce on the Comex, while silver futures advanced 2.4% to $30.32 an ounce. SPDR Gold Shares ( GLD ) was up 1.6%, and the iShares Silver Trust ( SLV ) was 1.9% higher.