The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.04% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Monday's premarket activity ahead of corporate earnings reports from retail companies.
US stock futures were mixed, with S&P 500 Index futures gaining 0.01%, Dow Jones Industrial Average futures and Nasdaq futures slipping 0.01% before the start of regular trading.
The Q2 e-commerce retail sales bulletin will be released at 10 am ET, along with the July leading indicators report.
Federal Reserve Governor Christopher Waller is slated to speak at 9:15 am ET.
In premarket action, bitcoin was down by 2.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.6% lower.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.01%. The Vanguard Health Care Index Fund (VHT) was up 0.2% while the iShares US Healthcare ETF (IYH) was 3% higher. The iShares Biotechnology ETF (IBB) gained 0.3%.
Liquidia (LQDA) shares were down more than 31% premarket after the company said it has received tentative US Food and Drug Administration approval for Yutrepia for the potential treatment of adults with pulmonary arterial hypertension but must wait until May 2025 for final approval.
Winners and Losers:
Industrial
Industrial Select Sector SPDR Fund (XLI), the Vanguard Industrials Index Fund (VIS), and the iShares US Industrials ETF (IYJ) were inactive.
ZIM Integrated Shipping Services (ZIM) rose more than 14% before the opening bell after the company swung to Q2 earnings on higher revenue and lifted its guidance for 2024 adjusted earnings before interest, taxes, depreciation, and amortization.
Financial
Financial Select Sector SPDR Fund (XLF) gained 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.
Churchill Capital Corp VII (CVII) shares were up nearly 8% pre-bell Monday after the blank-check company and CorpAcq Holdings said Sunday they agreed to end their business combination agreement.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was flat, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF (IYK) was inactive, while 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 up 0.3%.
Estee Lauder (EL) shares traded down 3% pre-bell after the company forecast a decline in fiscal Q1 adjusted earnings and net sales. The retailer also said CEO Fabrizio Freda will retire at the end of fiscal 2025.
Technology
Technology Select Sector SPDR Fund (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) was 1% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.1%.
Advanced Micro Devices (AMD) stock was up nearly 3% in recent Monday premarket activity after the company agreed to acquire artificial intelligence infrastructure provider ZT Systems in a cash-and-stock deal valued at $4.90 billion.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was up by 0.02%.
Commodities
Front-month US West Texas Intermediate crude oil retreated 0.8% to $76.01 per barrel on the New York Mercantile Exchange. Natural gas was up 1.6% at $2.16 per 1 million British Thermal Units. United States Oil Fund (USO) declined 0.8%, while the United States Natural Gas Fund (UNG) was 1,4% higher.
Gold futures for December declined 0.4% to $2,526.80 an ounce on the Comex, while silver futures were up 0.3% at $29.36 an ounce. SPDR Gold Shares (GLD) lost 0.7%, and iShares Silver Trust (SLV) fell 0.2%.
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