The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) slumped by 0.9%, while the actively traded Invesco QQQ Trust ($QQQ) faced a 1.1% drop in premarket activity on Monday, as persistent trade uncertainties fueled fears surrounding inflation and possible interest rate hikes. US stock futures also opened lower, with S&P 500 Index futures down by 1.1%, Dow Jones Industrial Average futures slipping 0.9%, and Nasdaq futures retreating 1.2% just before the regular trading hours commenced. Interestingly, there are no economic reports slated for release on Monday, which might contribute to the market's hesitation. In the premarket sphere, bitcoin experienced a minor retreat of 0.01%, whereas the ProShares Bitcoin Strategy ETF ($BITO) saw a more significant decline of 5.2%. **Power Play: Health Care** The Health Care Select Sector SPDR Fund ($XLV) retreated 0.7%.
Meanwhile, the Vanguard Health Care Index Fund ($VHT) dipped by 0.2%, and the iShares US Healthcare ETF ($IYH) showed a slight decline of 0.3%. The iShares Biotechnology ETF ($IBB) remained inactive during this period. A notable highlight was Checkpoint Therapeutics ($CKPT), which saw its stock surge more than 67% premarket after the company confirmed an agreement to be acquired by India's Sun Pharmaceutical Industries, at a price of $4.10 per share in cash plus a non-transferable contingent value right. **Winners and Losers: Energy** In the energy sector, the iShares US Energy ETF ($IYE) stayed inactive, while the Energy Select Sector SPDR Fund ($XLE) registered a minor loss of 0.2%. Veren ($VRN.US) shares surged by 15% before the market opened, following the company's announcement of a merger with Whitecap Resources in an all-stock transaction estimated to be worth approximately 15 billion Canadian dollars ($10.40 billion). **Financial** The Financial Select Sector SPDR Fund ($XLF) experienced a downturn of 1.2%.
Additionally, Direxion Daily Financial Bull 3X Shares ($FAS.US) dropped 3.2%, with its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), gaining 3.3%. Rocket Companies ($RKT.US) shares fell over 8% ahead of Monday's bell after announcing an acquisition of Redfin ($RDFN) at $12.50 per share.
Notably, Redfin's stock rose more than 66% pre-bell. **Industrial** The Industrial Select Sector SPDR Fund ($XLI) saw a 0.9% decline, the Vanguard Industrials Index Fund ($VIS) was down by 1.7%, and the iShares US Industrials ETF ($IYJ) nearly slipped 1% lower. Emerson ($EMR) faced a 2.3% drop pre-bell after the company decided to extend the expiration of its tender offer to acquire Aspen Technology ($AZPN) to Tuesday. **Technology** The Technology Select Sector SPDR Fund (XLK) retreated 1.3%, with the iShares US Technology ETF ($IYW) dropping 1.2%.
Also, the iShares Expanded Tech Sector ETF ($IGM.US) saw a decline of 1%. Among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) declined 1.3%, while the iShares Semiconductor ETF ($SOXX) faced a 1.7% decrease. Taiwan Semiconductor Manufacturing ($TSM) shares fell 1.6% in Monday's premarket activity following the company's announcement of lower monthly net revenue for February. **Consumer** In the consumer sector, the Consumer Staples Select Sector SPDR Fund ($XLP) showed a modest decline of 0.4%, while the Vanguard Consumer Staples Fund ($VDC) managed to rise slightly by 0.1%.
The iShares US Consumer Staples ETF ($IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ($XLY) decreased by 1.1%. The VanEck Retail ETF ($RTH) also remained inactive, while the SPDR S&P Retail ETF ($XRT) dipped by 0.5%. Nike's ($NKE) shares were down 1.2% pre-bell, after the Liverpool Football Club officially announced Adidas as its new kit partner, replacing Nike. **Commodities** On the commodities front, West Texas Intermediate crude oil for the front-month advanced 0.5% to $67.36 per barrel on the New York Mercantile Exchange, while natural gas prices climbed by 4.3% to reach $4.59 per 1 million British Thermal Units.
The United States Oil Fund (USO) reported a 0.5% increase, and the United States Natural Gas Fund (UNG) rose 4.2%. In terms of precious metals, gold futures for April dropped by 0.3% to $2,906.70 an ounce on the Comex. Silver futures rose 0.3%, reaching $32.92 an ounce. SPDR Gold Shares ($GLD) retreated by 0.2%, while the iShares Silver Trust ($SLV) rose slightly by 0.03%..