SPDR S&P 500 (SPY): -0.2% iShares S&P 500 (IVV): -0.1% PowerShares QQQ (QQQQ): -0.2% iShares Russell 2000 (IWM): -0.2% iShares Russell 1000 Growth (IWF): -0.2% iShares MSCI Emerging Markets Index (EEM): +0.5% United States Oil Fund (USO): -1.8% SPDR Gold Shares (GLD): -0.5% Select Financial Sector SPDRS (XLF): -0.3% Top Pre-Market Volume Movers: SPY, -0.1% GLD, +0.6% SDS, +0.2% IWM, -0.2% UNG, +0.7% Winners and Losers Broad-market funds, including SPY, IWM and others, are modestly lower. The actively traded Nasdaq-focused PowerShares QQQ (QQQQ) is down 0.1%. Stock futures have moved lower as pre-market trading has progressed this morning. Volume is light ahead of the New Year's holiday; markets are closed or closing early in Europe, though Wall Street will hold a full session. Deal news is mildly supportive but most investors are locking in the year's gains. Leveraged bearish broad-market ETFs hold the slight advantage in early trading, a move reflective of the thin, mostly steady action in stock futures this morning as well. Wall Street is largely marking time as 2010 comes up to a close, with major averages holding at two-year highs. The Direxion Daily Small Cap Bear 3X (TZA) is up 0.9%, ranging between 15.40 and 15.46. Actively traded Proshares Ultrashort S&P 500 (SDS) is up 0.4%, ranging between 23.77 and 23.93, while Proshares UltraPro Short S&P 500 (SPXU) is up 0.7%, hovering near 19.59. The Direxion Daily Small Cap Bull 3X (TNA) is down 0.8%, ranging between 73.80 and 73.25. Ultra QQQ (QLD) is lightly traded.