In the latest premarket activity, the broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) rose by 0.1%, while the Invesco QQQ Trust ($QQQ) saw a notable increase of 1.1%. These movements precede the release of critical economic reports later this week, prompting investors to keep a close eye on market dynamics.
In addition, US stock futures displayed positive trends, with S&P 500 Index futures gaining 0.7%, Dow Jones Industrial Average futures improving by 0.3%, and Nasdaq futures advancing by 1% as the market prepares for regular trading hours. In an important development, Federal Reserve Governor Lisa Cook is scheduled to address the market today at 9:15 am ET.
This could provide insights into future monetary policy decisions. Later, at 9:45 am ET, the S&P Global final composite purchasing managers index for December will be published, followed by the factory orders bulletin for November at 10 am ET. These reports are crucial for understanding economic health and potential market impact. Cryptocurrency market movements have also caught attention, with Bitcoin appreciating by 1.2% and the ProShares Bitcoin Strategy ETF ($BITO) increasing by 1.1% in premarket.
Investors continue to monitor the volatility within the crypto space closely. In the Health Care sector, the Health Care Select Sector SPDR Fund ($XLV) experienced a slight uptick of 0.2%. In contrast, the Vanguard Health Care Index Fund ($VHT) dipped marginally by 0.04%, while the iShares US Healthcare ETF ($IYH) saw a small decline of 0.2%.
The iShares Biotechnology ETF ($IBB) managed a modest gain of 0.4%. A standout performer in the premarket was CytoMed Therapeutics (GDTC), whose stock surged by 27% after announcing a partnership with India's SunAct Cancer Institute. This collaboration aims to explore the use of the company's proprietary allogeneic gamma delta T cells in the treatment of various cancers through clinical research. In the Technology sector, the Technology Select Sector SPDR Fund (XLK) rose by 1.2%, with the iShares US Technology ETF ($IYW) not far behind at 1.3%.
The iShares Expanded Tech Sector ETF ($IGM.US) outperformed, achieving a gain of 1.6%. Among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) gained 0.5%, while the iShares Semiconductor ETF ($SOXX) was up by 2.2%. Marti Technologies ($MRT) saw its shares increase by over 6%. This spike was attributed to the launch of a dynamic pricing model for their ride-hailing services in Istanbul, indicating expansion and response to market demands. In the Consumer sector, mixed results were noted as the Consumer Staples Select Sector SPDR Fund ($XLP) advanced by 0.3%.
However, the Vanguard Consumer Staples Fund ($VDC) took a hit, declining by 5.4%. The iShares US Consumer Staples ETF ($IYK) remained flat, while the Consumer Discretionary Select Sector SPDR Fund ($XLY) rose by 0.9%. Although the VanEck Retail ETF ($RTH) showed inactivity, the SPDR S&P Retail ETF ($XRT) results were positive, with a 1.2% gain. XPeng ($XPEV) shares jumped by 4.7% in pre-bell trading following their announcement of a memorandum of understanding with Volkswagen Group's Chinese subsidiary to develop a super-fast charging network within China, highlighting the growth potential within the electric vehicle sector. The Financial sector's broader movement included a 0.6% increase in the Financial Select Sector SPDR Fund (XLF).
The Direxion Daily Financial Bull 3X Shares ($FAS.US) climbed by 1.2%, while the counter product, Direxion Daily Financial Bear 3X Shares ($FAZ), declined by 1.3%. UBS Group ($UBS) shares were also up by 2.7% pre-bell, as the company announced the retention of independent ombudsman Neil Barofsky to investigate accounts linked to Nazi activities inherited from Credit Suisse, reflecting ongoing adjustments in corporate governance and responsibility. In the Industrial sector, the Industrial Select Sector SPDR Fund ($XLI) increased by 0.5%, shifting against a 0.2% decrease in the Vanguard Industrials Index Fund ($VIS), while the iShares US Industrials ETF (IYJ) saw an increment of 1.1%.
Boeing ($BA) stock ascended by 1.7% before market opening, rebounding from a more than 1% decline on Friday. The company, along with the US Department of Justice, updated a court that a new plea agreement is still being finalized, amid ongoing discussions from a previous rejection in December. Additionally, the appointment of Dana Deasy as the chief information digital officer signals a proactive restructuring approach following the departure of Susan Doniz last year. Regarding Energy stocks, while the iShares US Energy ETF ($IYE) showed no changes, the Energy Select Sector SPDR Fund ($XLE) noted a 0.2% rise.
Talos Energy ($TALO) shares gained 1.7% before Monday's market opening, as the firm announced Joseph Mills' resignation as interim president and CEO to pursue new opportunities. In the realm of commodities, front-month US West Texas Intermediate crude oil prices edged up by 0.7%, reaching $74.51 per barrel at the New York Mercantile Exchange.
Natural gas surged by 7.3%, now priced at $3.60 per 1 million British Thermal Units. The United States Oil Fund (USO) saw a decrease of 0.6%, while the United States Natural Gas Fund (UNG) climbed by 7.6%. Gold futures for February edged up 0.1% to $2,658.20 per ounce on the Comex, with silver futures enhancing by 2.7% to $30.88 per ounce.
The SPDR Gold Shares ($GLD) increased by 0.4%, whereas the iShares Silver Trust ($SLV) rose by 2.2%. Overall, this premarket activity highlights a range of dynamic sector movements and significant corporate developments, providing investors with an essential overview of elements to watch for the week ahead..