08:23 AM EDT, 04/02/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% lower in recent Tuesday premarket activity amid traders' focus on upcoming economic data.

US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures 0.4% lower, and Nasdaq futures retreating 0.4% before the start of regular trading.

The Job Openings and Labor Turnover Survey and the factory orders bulletin, both for February, will be released at 10 am ET.

Federal Reserve Governor Michelle Bowman speaks at 10:10 am ET, New York Fed President John Williams at 12 pm ET, Cleveland Fed President Loretta Mester at 12:05 pm ET, and San Francisco Fed President Mary Daly at 1:30 pm ET.

In premarket action, bitcoin was down by 5.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 5.5% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.8%. The Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were flat. The iShares Biotechnology ETF (IBB) was inactive.

Acorda Therapeutics ( ACOR ) shares were nearly 70% lower pre-bell Tuesday after the company said overnight it signed an agreement to sell substantially all its assets to Merz Therapeutics for $185 million.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) slipped by 0.1%.

Ashford (AINC) stock was up more than 50% pre-bell Tuesday after the company said late Monday that a special committee of independent and disinterested directors recommended, and its board approved, a plan to terminate the company's common-stock registration and to delist its shares from the NYSE American.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.1% and the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

Microvast's ( MVST ) shares were down nearly 24% in premarket activity on Tuesday after the company reported a wider-than-expected Q4 loss, and its Q1 revenue guidance missed estimates.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was flat, 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) lost 0.3%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was inactive.

PVH (PVH) shares were down 21% in recent Tuesday premarket activity after the owner of Calvin Klein late Monday forecast a drop in Q1 and full-year 2024 sales.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 0.7%.

Terran Orbital ( LLAP ) stock was down nearly 13% in recent Tuesday premarket activity after the company reported a Q4 net loss late Monday of $0.21 per diluted share, compared with a $0.34 loss a year earlier.

Energy

The iShares US Energy ETF (IYE) advanced 0.6%, while the Energy Select Sector SPDR Fund (XLE) was up by 0.7%.

Transocean ( RIG ) was up 4.7% before Tuesday's opening bell, a day after the company said it extended its contract for the Deepwater Asgard rig with an independent operator in the US Gulf of Mexico by one year.

Commodities

Front-month US West Texas Intermediate crude oil gained 1.7% to reach $85.17 per barrel on the New York Mercantile Exchange. Natural gas declined 0.8% to $1.82 per 1 million British Thermal Units. United States Oil Fund (USO) advanced 1.3%, while the United States Natural Gas Fund (UNG) was 1.2% lower.

Gold futures for June were nearly 1.1% higher at $2,281.10 an ounce on the Comex, and silver futures were up 2.6% at $25.73 an ounce. SPDR Gold Shares (GLD) gained 0.6%, and iShares Silver Trust (SLV) advanced 1.8%.