The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6% and the actively traded Invesco QQQ Trust (QQQ) was 0.9% higher in Monday's premarket activity, as traders weigh news that President Joe Biden stepped away from the election run.
US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.9% before the start of regular trading.
The June Chicago Fed National Activity Index will be released at 8:30 am ET.
In premarket action, bitcoin was down by 0.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher.
Power Play:
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was down by 0.3%.
Tellurian (TELL) shares were up 66% before Monday's opening bell after the company said Sunday that it has entered into a definitive agreement for Woodside Energy Group to acquire all the outstanding shares of the company for $1 per share in an all-cash transaction of about $900 million.
Winners and Losers:
Industrial
Industrial Select Sector SPDR Fund (XLI) was flat while the Vanguard Industrials Index Fund (VIS) was 3.5% higher and the iShares US Industrials ETF (IYJ) was inactive.
Ryanair (RYAAY) shares were down more than 13% before the opening bell after the company reported lower fiscal Q1 financial results.
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT) was up 0.4% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.4% higher.
Cellectar Biosciences (CLRB) stock was up more than 8% premarket after the company said that most of the Tranche B warrants from its September 2023 private placement have been converted into Series E preferred stock, generating about $19.4 million in gross proceeds.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.03%, while the Vanguard Consumer Staples Fund (VDC) was down 0.1%. The iShares US Consumer Staples ETF (IYK), the Consumer Discretionary Select Sector SPDR Fund (XLY), the VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.
XPeng (XPEV) traded up nearly 4% pre-bell after the company and Volkswagen Group said that they signed a master agreement for their previously announced technical collaboration on electrical/electronic architecture for locally produced vehicles based on Volkswagen's China main platform and modular electric drive matrix platform.
Technology
Technology Select Sector SPDR Fund (XLK) was up 1.1%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 1.5%.
NVIDIA (NVDA) stock was up nearly 2% in recent Monday premarket activity after Reuters reported, citing three sources, that the company is preparing a version of its new flagship "Blackwell" AI chips for the Chinese market that will be compatible with current US export controls.
Financial
Financial Select Sector SPDR Fund (XLF) advanced by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% lower.
Truist Financial (TFC) shares were down 1.8% pre-bell Monday after the company reported Q2 adjusted earnings of $0.91 per diluted share, down from $0.92 a year earlier.
Commodities
Front-month US West Texas Intermediate crude oil lost 0.5% to $79.75 per barrel on the New York Mercantile Exchange. Natural gas fell 2.9% to $2.19 per 1 million British Thermal Units. United States Oil Fund (USO) declined 0.6%, while the United States Natural Gas Fund (UNG) was 3% higher.
Gold futures for December were up 0.4% to $2,456.90 an ounce on the Comex, while silver futures fell 0.2% to $29.26 an ounce. SPDR Gold Shares (GLD) gained 0.4%, and iShares Silver Trust (SLV) was 0.7% lower.
Comments