In the latest developments in the U.S. stock market, the broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) recorded a slight increase of 0.04%, while the actively traded Invesco QQQ Trust ($QQQ) rose by 0.1% during Monday's premarket activity. Investors await key corporate earnings reports from major retail companies, a critical moment for assessing the health of the economic recovery post-pandemic. As the market gears up for regular trading, U.S.
stock futures displayed a mixed picture. The S&P 500 Index futures gained a modest 0.01%, whereas both Dow Jones Industrial Average futures and Nasdaq futures experienced a slight decline of 0.01%. The upcoming release of the Q2 e-commerce retail sales bulletin at 10 am ET, along with July's leading indicators report, is set to provide vital insights into consumer spending trends. Moreover, Federal Reserve Governor Christopher Waller is slated to deliver a speech at 9:15 am ET, which could further influence market sentiment. In the cryptocurrency realm, Bitcoin faced a downturn of 2.4%, with the ProShares Bitcoin Strategy ETF ($BITO) reflecting a more pronounced decrease of 2.6%. Power Play: On the health care front, the Health Care Select Sector SPDR Fund ($XLV) managed to advance slightly by 0.01%.
The Vanguard Health Care Index Fund ($VHT) saw an uptick of 0.2%, while the iShares US Healthcare ETF ($IYH) surged by 3%. Notably, the iShares Biotechnology ETF ($IBB) increased by 0.3%, showcasing resilience within the healthcare sector amidst fluctuating market dynamics. However, Liquidia ($LQDA.US) shareholders faced a significant setback, with shares plummeting more than 31% in premarket trading following the company's announcement of receiving tentative approval from the U.S.
Food and Drug Administration for Yutrepia, a treatment targeting adults with pulmonary arterial hypertension. Unfortunately, final approval won't arrive until May 2025, adding to investor concerns. Winners and Losers: In the industrial sector, the Industrial Select Sector SPDR Fund ($XLI), Vanguard Industrials Index Fund ($VIS), and iShares US Industrials ETF ($IYJ) remained relatively inactive as investors awaited further cues. Conversely, ZIM Integrated Shipping Services ($ZIM) experienced a significant rise of over 14% in premarket trading.
This surge came after the company reported a turnaround in its Q2 earnings, supported by increased revenues, and raised its guidance for 2024 adjusted earnings before interest, taxes, depreciation, and amortization, indicating a positive growth trajectory. The financial sector showed mixed results, with the Financial Select Sector SPDR Fund ($XLF) gaining 0.1%.
The Direxion Daily Financial Bull 3X Shares ($FAS.US) followed suit, increasing by 0.3%. Conversely, the bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), dipped by 0.2%. Intriguingly, Churchill Capital Corp VII ($CVII) shares soared nearly 8% in pre-bell trading after it was revealed that the blank-check company and CorpAcq Holdings reached an agreement to terminate their business combination contract. In consumer stocks, the Consumer Staples Select Sector SPDR Fund ($XLP) remained flat.
However, the iShares US Consumer Staples ETF ($IYK) and the Vanguard Consumer Staples Fund ($VDC) were mostly inactive. Notably, the Consumer Discretionary Select Sector SPDR Fund ($XLY) edged up by 0.2%, while the SPDR S&P Retail ETF ($XRT) rose by 0.3%. Meanwhile, Estee Lauder ($EL.US) shares traded down by 3% in pre-bell activity following a bleak forecast, indicating a decline in fiscal Q1 adjusted earnings and net sales.
The company also announced the retirement of CEO Fabrizio Freda at the end of fiscal 2025, introducing uncertainty into its future leadership. In the technology sector, the Technology Select Sector SPDR Fund ($XLK) retreated by 0.1%, while the iShares US Technology ETF ($IYW) saw a 1% dip. The iShares Expanded Tech Sector ETF ($IGM.US) also decreased by 0.1%.
Semiconductor ETFs displayed inactivity; however, the iShares Semiconductor ETF ($SOXX) faced a small decline of 0.1%. Advanced Micro Devices ($AMD) stock, in contrast, rose nearly 3% in premarket trading after announcing it would acquire the artificial intelligence infrastructure provider ZT Systems in a landmark cash-and-stock transaction valued at $4.90 billion, strengthening its position in the growing AI sector. In the energy sector, the iShares US Energy ETF ($IYE) remained inactive, although the Energy Select Sector SPDR Fund ($XLE) recorded an increase of 0.02%. Turning to commodities, front-month U.S.
West Texas Intermediate crude oil declined by 0.8% to $76.01 per barrel on the New York Mercantile Exchange, while natural gas prices rose 1.6% to $2.16 per 1 million British Thermal Units. The United States Oil Fund (USO) also saw a decline of 0.8%, while the United States Natural Gas Fund (UNG) recorded a 1.4% increase. Gold futures for December dropped 0.4% to $2,526.80 an ounce on the Comex, while silver futures edged higher by 0.3% to $29.36 an ounce.
The SPDR Gold Shares ($GLD) saw a minor loss of 0.7%, and the iShares Silver Trust ($SLV) concluded the day down by 0.2%. Investors continue to evaluate these economic signals as the U.S. economy navigates a complex recovery, with various sectors displaying contrasting trends amid the backdrop of fluctuating market conditions..