The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.03% higher in Thursday's premarket activity amid hopes of an interest rate cut.
US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.02% before the start of regular trading.
US employers announced plans for 71,321 job cuts in November, down from October but above year-earlier levels, with telecommunications and technology firms reporting the largest reductions, according to Challenger, Gray & Christmas on Thursday.
US initial jobless claims dropped to 191,000 in the week ended Nov. 29 from a revised 218,000, defying expectations for an increase to 220,000.
The September factory orders report posts at 10 am ET, followed by the weekly EIA natural gas bulletin at 10:30 am ET.
Federal Reserve board member Michelle Bowman is slated to speak on Thursday.
In premarket activity, bitcoin was down by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was flat, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.
Power Play:
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.
UP Fintech (TIGR) shares were up more than 7% pre-bell after the company reported higher Q3 non-GAAP net income and revenue.
Winners and Losers:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2%, 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 0.2%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was flat.
Dollar General (DG) shares were up more than 6% pre-bell after the company reported higher fiscal Q3 earnings and net sales.
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.1%. The Vanguard Health Care Index Fund (VHT) was 0.03%, while the iShares US Healthcare ETF (IYH) and the iShares Biotechnology ETF (IBB) were inactive.
Philips (PHG) stock was down more than 5% premarket after Reuters reported that executives indicated 2026 organic sales growth is unlikely to double from roughly 2% this year.
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.03%, and the iShares US Technology ETF (IYW) was 0.02% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) declined by 0.02%, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.
Science Applications International (SAIC) shares were up more than 5% in recent premarket activity after the company reported higher-than-expected fiscal Q3 adjusted earnings.
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.
Donaldson (DCI) stock was up more than 2% before the opening bell after the company reported higher fiscal Q1 adjusted earnings and revenue.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.1%.
Commodities
Front-month US West Texas Intermediate crude oil was up 0.6% at $59.32 per barrel on the New York Mercantile Exchange. Natural gas gained 0.2% to reach $5.01 per 1 million British Thermal Units. The United States Oil Fund (USO) gained 0.4%, while the United States Natural Gas Fund (UNG) was 0.3% higher.
Gold futures for February were down by 0.3% at $4,221.90 an ounce on the Comex, and silver futures fell by 1% to $57.91 an ounce. SPDR Gold Shares (GLD) was flat, and the iShares Silver Trust (SLV) fell by 2%.