The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.8% and the actively traded Invesco QQQ Trust (QQQ) was 1.2% higher in Thursday's premarket activity after Meta (META) and Microsoft (MSFT) reported better-than-expected financial results.

US stock futures were also higher, with S&P 500 Index futures up 0.9%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures rising 1.2% before the start of regular trading.

US companies announced 62,075 job cuts in July, up from June and last year's levels, with the tech sector leading layoffs and economic conditions cited as the top reason, according to Challenger, Gray & Christmas on Thursday.

Reports releasing at 8:30 am ET include the weekly jobless claims bulletin, the personal income and outlays report for June, and the Q2 employment cost index.

The Chicago PMI will be released at 9:45 am ET, followed by the weekly EIA natural gas report at 10:30 am ET.

In premarket activity, bitcoin was up by 1.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.4% higher, Ether ETF (EETH) rose 2.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell 1%.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.5%, while the Vanguard Consumer Staples Fund (VDC) was 0.4% lower. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) retreated by 0.01%.

TAL Education Group (TAL) shares were up more than 10% pre-bell after the company reported higher fiscal Q1 non-GAAP earnings and revenue.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) advanced 1.4%, and the iShares US Technology ETF (IYW) was 2.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 0.9%.

WeRide (WRD) shares were up more than 8% in recent Thursday premarket activity after the company reported a narrower Q2 loss and higher revenue.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.8% higher.

Lincoln National (LNC) shares were up more than 4% pre-bell Thursday after the company posted higher Q2 adjusted income from operations.

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.6%. The Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.6%. The iShares Biotechnology ETF (IBB) was flat.

Cigna Group (CI) stock was up more than 2% premarket after the company reported higher Q2 financial results.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was down by 0.9%.

Cameco (CCJ) stock was up nearly 2% before Thursday's opening bell after the company reported higher Q2 adjusted earnings and revenue.

Industrial

Industrial Select Sector SPDR Fund (XLI) declined 0.3% while the Vanguard Industrials Index Fund (VIS) was down 0.8%, while the iShares US Industrials ETF (IYJ) was inactive.

Xylem (XYL) stock was up more than 1% before the opening bell after the company reported higher Q2 adjusted earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.5% at $69.63 per barrel on the New York Mercantile Exchange. Natural gas retreated 0.8% to $3.02 per 1 million British Thermal Units. United States Oil Fund (USO) was 0.8% lower, while the United States Natural Gas Fund (UNG) advanced 0.1%.

Gold futures for August were 0.1% higher at $3,357.60 an ounce on the Comex, while silver futures were down 2.9% at $36.64 an ounce. SPDR Gold Shares (GLD) advanced by 1.1%, and the iShares Silver Trust (SLV) was 0.8% lower.