The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) recorded a notable increase of 0.5%, while the actively traded Invesco QQQ Trust ($QQQ) saw a rise of 0.4% during Monday's premarket activity as investors turn their attention to impending inflation data. This interest reflects a broader sentiment in the market as economic indicators signal potential changes in monetary policy.
As we look ahead, US stock futures have also shown strength, with the S&P 500 Index futures up by 0.5%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.4% prior to the commencement of regular trading hours. Upcoming reports are critical in shaping market expectations; notably, the Chicago Fed National Activity Index for January will be published at 8:30 am ET, followed by the Dallas Fed Manufacturing Survey set for 10:30 am ET.
Investors are keen to decipher the implications of these data points. In the realm of cryptocurrency, bitcoin remained flat, and the ProShares Bitcoin Strategy ETF ($BITO) demonstrated a respectable increase of 1.2% in premarket trading. Power Play: Technology In the technology sector, the Technology Select Sector SPDR Fund (XLK) experienced a 0.5% increase, while the iShares US Technology ETF ($IYW) advanced by 0.9%.
Meanwhile, the iShares Expanded Tech Sector ETF ($IGM.US) recorded a slight decline of 0.04%. Among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) posted a significant gain of 1.8%, and the iShares Semiconductor ETF ($SOXX) rose by 0.6%. In an intriguing development, shares of Fiscalnote ($NOTE) surged over 6% in recent premarket trading after the company announced its intention to sell its Dragonfly Intelligence and Oxford Analytica units to Dow Jones for a substantial $40 million. Winners and Losers: Consumer In the consumer sector, the Consumer Staples Select Sector SPDR Fund ($XLP) saw a modest gain of 0.2%.
In contrast, the Vanguard Consumer Staples Fund ($VDC) experienced a decline of 0.4%. The iShares US Consumer Staples ETF ($IYK) remained stagnant, while the Consumer Discretionary Select Sector SPDR Fund ($XLY) gained 0.5%. While the VanEck Retail ETF ($RTH) was inactive, the SPDR S&P Retail ETF ($XRT) increased by 1%.
Domino's Pizza ($DPZ) shares fell 3.6% pre-bell after the company reported disappointing fiscal Q4 earnings and revenue numbers. Energy In the energy sector, the iShares US Energy ETF ($IYE) dipped by 0.9%, whereas the Energy Select Sector SPDR Fund ($XLE) advanced by 0.5%. Stocks of Kosmos Energy ($KOS) rose 3.5% ahead of Monday's opening bell, recovering from a prior decline of 5.1% on Friday.
The company reported a Q4 adjusted net loss alongside a decrease in revenue. Health Care The Health Care Select Sector SPDR Fund ($XLV) rose by 0.6%. The Vanguard Health Care Index Fund ($VHT) gained a negligible 0.04%, while the iShares US Healthcare ETF ($IYH) and the iShares Biotechnology ETF ($IBB) remained inactive.
Shares of Summit Therapeutics ($SMMT) increased 3% premarket following a 4.8% decline at the end of Friday’s session. The company announced a collaboration with Pfizer (PFE) for clinical trials to assess ivonescimab in combination with several of Pfizer’s antibody drug conjugates aimed at treating multiple solid tumors.
Furthermore, Summit disclosed a wider-than-expected Q4 non-GAAP net loss. Financial In the financial domain, the Financial Select Sector SPDR Fund (XLF) surged 0.7%. The Direxion Daily Financial Bull 3X Shares ($FAS.US) rose by 2.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), fell 2%.
Equitable Holdings ($EQH) shares advanced 1.9% pre-bell Monday after announcing a cash tender offer for purchasing up to 46 million units of AllianceBernstein Holding (AB) at $38.50 each, summing to an approximate total of $1.8 billion. Industrial In the industrial sector, the Industrial Select Sector SPDR Fund ($XLI) rose by 0.4%, while the Vanguard Industrials Index Fund ($VIS) fell by 0.1%, and the iShares US Industrials ETF ($IYJ) remained inactive.
RTX ($RTX) reported a 1% increase prior to the opening bell after securing an additional contract worth millions from the NATO Support Procurement Support Agency for ELCAN Specter DR dual role sights intended for the Danish armed forces. Commodities The price of front-month US West Texas Intermediate crude oil declined by 0.04% to reach $70.37 per barrel on the New York Mercantile Exchange.
Concurrently, natural gas prices dropped by 6.6% to $3.96 per million British Thermal Units. The United States Oil Fund (USO) increased by 0.2%, whereas the United States Natural Gas Fund (UNG) fell 5.8%. Gold futures for April advanced 0.3%, reaching $2,962.30 per ounce on the Comex, while silver futures saw a slight decline of 0.4% to $33.20 per ounce.
SPDR Gold Shares ($GLD) rose by 0.4%, and the iShares Silver Trust ($SLV) increased by 0.2%. This showcases a dynamic movement in the commodities market, highlighting the ongoing volatility that traders must navigate in a fluctuating economic landscape..