The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Thursday's premarket activity as the hopes for a rate cut grow stronger after Wednesday's CPI report.

US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.2% before the start of regular trading.

The national retail sales report will be released at 8:30 am ET.

Other reports releasing at 8:30 am ET include the weekly jobless claims bulletin, the August Philadelphia Fed Manufacturing Index, the August Empire State Manufacturing Index, and the July import and export prices report.

The July industrial production bulletin posts at 9:15 am ET, followed by the business inventories and housing market index reports at 10 am ET.

The weekly EIA natural gas report will be released at 10:30 am ET.

Federal Reserve St. Louis President Alberto Musalem speaks at 9:10 am ET, and Philadelphia President Patrick Harker at 1:10 pm ET.

In premarket activity, bitcoin was up by 0.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.9%, while the Vanguard Consumer Staples Fund (VDC) advanced 0.4%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was up 0.3%, while the SPDR S&P Retail ETF (XRT) was 1.2% higher.

Walmart (WMT) shares traded up more than 6% pre-bell after the company reported higher fiscal Q2 revenue and lifted its fiscal 2025 guidance.

Winners and Losers:

Industrial

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

Heico (HEI) stock was nearly 6% higher before the opening bell after a Wednesday filing showed that Berkshire Hathaway (BRK.A, BRK.B) bought $185.4 million worth of Heico shares in Q2.

Technology

Technology Select Sector SPDR Fund (XLK) gained 0.3%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 1.7%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.

NICE (NICE) shares were up nearly 6% in recent Thursday premarket activity after the company reported higher Q2 financial results and named Scott Russell as chief executive officer, effective Jan. 1, 2025.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was flat, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.

UBS (UBS) shares were down 3% pre-bell Thursday after multiple news outlets cited the company as saying that it has decided to liquidate the Credit Suisse Real Estate Fund International amid limited liquidity in real estate markets.

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was up 0.04%.

Anew Medical (WENA) stock was down 2% premarket after the company said it secured a US patent covering an RNA splice variant of the human Klotho gene "s-KL" to treat cognitive and neurodegenerative diseases.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.4%.

Golar LNG (GLNG) shares were up 1.3% before Thursday's opening bell after the company swung to Q2 net income.

Commodities

Front-month US West Texas Intermediate crude oil advanced 1% to $77.75 per barrel on the New York Mercantile Exchange. Natural gas was up 1.4% at $2.25 per 1 million British Thermal Units. United States Oil Fund (USO) advanced 0.8%, while the United States Natural Gas Fund (UNG) was 0.1% higher.

Gold futures for December advanced 0.7% to $2,498 an ounce on the Comex, while silver futures were up 3.3% at $28.24 an ounce. SPDR Gold Shares (GLD) gained 0.5%, and iShares Silver Trust (SLV) was 2.5% higher.