08:39 AM EDT, 10/15/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up by 0.01% while the actively traded Invesco QQQ Trust (QQQ) was 0.01% lower in Tuesday's premarket activity, as big bank earnings come into focus.

US stock futures were mixed, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures retreating 0.02%, and Nasdaq futures higher by 0.04% before the start of regular trading.

The Empire State Manufacturing Index for October retreated to -11.9 compared with 3.6 expected and 11.5 prior.

Federal Reserve San Francisco President Mary Daly speaks at 11:30 am ET, Governor Adriana Kugler at 1:05 pm ET, and Atlanta President Raphael Bostic at 7 pm ET.

In premarket action, bitcoin was up by 0.8% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund ( XLK ) advanced less than 0.1%, and the iShares US Technology ETF ( IYW ) was marginally lower by 0.01%, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.8%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was up 0.1%, while the iShares Semiconductor ETF ( SOXX ) lost 0.2%.

Wolfspeed ( WOLF ) stock was up nearly 28% in recent Tuesday premarket activity after the company said that it has signed a non-binding preliminary memorandum of terms with the US Department of Commerce for up to $750 million in proposed direct funding upon achieving certain milestones.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.4%. The Vanguard Health Care Index Fund ( VHT ) was down 0.1% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF ( IBB ) was also inactive.

UnitedHealth Group ( UNH ) stock was down 3.4% premarket after the company reported higher Q3 medical costs.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.4%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.1%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was flat.

Las Vegas Sands ( LVS ) stock was down 2% pre-bell even after JPMorgan raised its price target to $60 from $53.

Energy

The iShares US Energy ETF ( IYE ) was down 2.4%, while the Energy Select Sector SPDR Fund ( XLE ) was 2.6% lower.

Phillips 66 (PSX) shares were down 1.8% before Tuesday's opening bell after the company said late Monday that it agreed to sell its 49% stake in Coop Mineraloel to its Swiss joint venture partner for roughly $1.24 billion, as part of the petroleum refiner's ongoing divestiture efforts.

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.7%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 2.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 2.2% lower.

PNC Financial Services ( PNC ) shares were up 0.8% pre-bell Tuesday after the company reported higher-than-expected Q3 earnings and revenue.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.2% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Southwest Airlines ( LUV ) stock gained 1% before the opening bell after the company said late Monday that investor Elliott Investment Management's call for a special meeting of shareholders to elect a new slate of directors is "unnecessary and inappropriate."

Commodities

Front-month US West Texas Intermediate crude oil decreased 3.8% to $71.05 per barrel on the New York Mercantile Exchange. Natural gas was down 0.5% at $2.48 per 1 million British Thermal Units. United States Oil Fund ( USO ) declined 4%, while the United States Natural Gas Fund ( UNG ) rose 0.3%.

Gold futures for December were down 0.1% to $2,668.20 an ounce on the Comex, while silver futures gained 0.1% to $31.36 an ounce. SPDR Gold Shares ( GLD ) were down 0.1%, and iShares Silver Trust ( SLV ) was 0.5% lower.