The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1% and the actively traded Invesco QQQ Trust (QQQ) was 1.1% higher in Monday's premarket activity as a rebound in global equities and lower oil prices supported stocks.
US stock futures were higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 1%, and Nasdaq futures gaining 0.7% before the start of regular trading.
Wholesale inventory data for September will be released at 10 am ET, followed by the New York Federal Reserve's inflation expectations reading for October at 11 am ET.
Fed Vice Chair for Supervision Michelle Bowman, Chicago Fed President Austan Goolsbee and Richmond Fed President Tom Barkin are slated to speak on Monday.
In premarket activity, bitcoin was down 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.3% lower, Ether ETF (EETH) fell 4.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 1.7%.
Power Play:
Healthcare
The State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.3%, the Vanguard Health Care Index Fund (VHT) was up 1.3%, while the iShares US Healthcare ETF (IYH) gained 0.2%. The iShares Biotechnology ETF (IBB) was 1.1% higher.
ImmunityBio (IBRX) stock was down more than 12% premarket after the company reported a wider Q3 net loss.
Winners and Losers:
Energy
The iShares US Energy ETF (IYE) gained 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.6%.
Kodiak Gas Services (KGS) stock was up more than 8% after the company reported higher Q3 adjusted earnings and revenue.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) gained 0.5%, the iShares US Technology ETF (IYW) was 0.6% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 4.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.4%, while the iShares Semiconductor ETF (SOXX) rose by 0.8%.
Nvidia (NVDA) shares were down 5% after the company's board said it launched an investigation amid reports that co-founder and Chief Executive Jensen Huang has been the target of a "foreign intelligence effort."
Financial
The State Street Financial Select Sector SPDR ETF (XLF) advanced 1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2.6% lower.
KKR (KKR) shares were up 2% after the company reported higher Q3 adjusted net income.
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
CNH Industrial (CNH) stock was up more than 1% before the opening bell after the company posted higher Q3 adjusted earnings.
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 3.1% higher and the iShares US Consumer Staples ETF (IYK) was down 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 1.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.3% higher.
Tesla's (TSLA) shares were up more than 1% pre-bell. Chief Executive Elon Musk said Saturday that the backlog for the electric-powered carmaker's Cybertruck is "far more" than the company can produce before it plans to discontinue the model.
Commodities
Front-month US West Texas Intermediate crude oil retreated 3.9% to $87.30 per barrel on the New York Mercantile Exchange. Natural gas was up 2.8% at $3.08 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 3.1%, while the United States Natural Gas Fund (UNG) was 4.3% higher.
Gold futures for November gained 1.4% to reach $4,132.70 an ounce on the Comex. Silver futures advanced 1.5% to $52.73 an ounce. SPDR Gold Shares (GLD) was up 1.5%, and the iShares Silver Trust (SLV) was 1.6% higher.
Comments