Exchange-Traded Funds Mixed, Equity Futures Higher Pre-Bell Tuesday Amid AI Disruption Fears

MT Newswires Live
02/24

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.02% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Tuesday's premarket activity amid concerns around the effects of AI disruption on profits and jobs.

US stock futures were edging higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.3% before the start of regular trading.

The Case-Shiller Home Price Index and the FHFA House Price Index, both for December, will be released at 9 am ET.

The Conference Board Consumer Confidence bulletin and the Richmond Fed Manufacturing Index, both for February, will be released at 10 am.

Federal Reserve Chicago President Austan Goolsbee, Atlanta President Raphael Bostic, Boston President Susan Collins, Governor Christopher Waller, Governor Lisa Cook and Richmond President Thomas Barkin are slated to speak on Tuesday.

In premarket activity, bitcoin was down by 2.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.1% lower, Ether ETF (EETH) fell 2.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2%.

Power Play:

Technology

The State Street Technology Select Sector SPDR ETF (XLK) advanced 0.7%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) rose by 1.5%.

Advanced Micro Devices (AMD) shares were up more than 9% in recent premarket activity after the company said Meta Platforms (META) will purchase up to 6 gigawatts of AI chips under a multiyear partnership.

Winners and Losers:

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, and the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was up 0.5%.

Fresenius Medical Care (FMS) stock was down more than 6% premarket after the company reported lower Q4 revenue and said it expects "broadly flat" 2026 revenue growth compared with a year earlier.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.1%, the Vanguard Industrials Index Fund (VIS) was flat, and the iShares US Industrials ETF (IYJ) was inactive.

Tennant (TNC) stock was down more than 5% before the opening bell after the company reported lower-than-expected Q4 adjusted earnings and net sales.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.7% higher. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) gained 0.4%.

Home Depot (HD) shares were up more than 2% pre-bell after the company reported higher-than-expected fiscal Q4 adjusted earnings and net sales.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% lower.

Blue Owl Capital (OWL) shares were down more than 2% pre-bell after Deutsche Bank downgraded the company's stock to hold from buy and cut its price target to $10 from $15.

Energy

The iShares US Energy ETF (IYE) gained 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.1%.

Constellation Energy (CEG) stock was up more than 1% before Tuesday's opening bell after the company reported higher-than-expected Q4 adjusted earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.4% to $66.55 per barrel on the New York Mercantile Exchange. Natural gas retreated 1.7% to $2.93 per 1 million British Thermal Units. The United States Oil Fund (USO) gained 0.2%, while the United States Natural Gas Fund (UNG) was 1.7% lower.

Gold futures for March were down 1% at $5,175.40 an ounce on the Comex. Silver futures rose 1.1% to $88.14 an ounce. SPDR Gold Shares (GLD) declined by 1.5%, and the iShares Silver Trust (SLV) was 0.9% lower.

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