In Monday's premarket activity, the broad market exchange-traded fund SPDR S&P 500 ETF Trust was down 0.5%, while the actively traded Invesco QQQ Trust experienced a decline of 0.6%. This downturn occurs in anticipation of the Q3 earnings season. U.S. stock futures also recorded a decline. The S&P 500 Index futures were up 0.5%, but Dow Jones Industrial Average futures slipped by 0.4%, contrasting with Nasdaq futures, which gained 0.6% just before regular trading began. Expectations for the day include the U.S.
Federal Reserve's consumer credit report for August, set to be released at 3 PM ET. Several Federal Reserve presidents are scheduled to speak, including Neel Kashkari from the Minneapolis Federal Reserve at 1:50 PM, Raphael Bostic from the Atlanta Fed at 6 PM, and St. Louis Fed President Alberto Musalem at 6:30 PM. In the cryptocurrency sector, Bitcoin witnessed a slight uptick of 0.7%, and the ProShares Bitcoin Strategy ETF experienced a 1.1% increase. **Power Play: Technology** The Technology Select Sector SPDR Fund saw a retreat of 0.8%, while the iShares US Technology ETF fell by 0.2%.
However, the iShares Expanded Tech Sector ETF displayed resilience with a gain of 0.9%. In the semiconductor ETF sphere, the SPDR S&P Semiconductor ETF remained flat, but the iShares Semiconductor ETF enjoyed a 0.4% rise. Algorhythm Holdings experienced remarkable premarket activity with a surge of 48% following the announcement of a service contract awarded by a major global beverage, food, and snack corporation. **Winners and Losers: Consumer** The Consumer Staples Select Sector SPDR Fund showed no change, while the Vanguard Consumer Staples Fund nudged up by 0.1%.
Meanwhile, the iShares US Consumer Staples ETF remained inactive, and the Consumer Discretionary Select Sector SPDR Fund fell by 0.6%. The VanEck Retail ETF experienced a marginal decrease of 0.1%, and the SPDR S&P Retail ETF declined by 1.1%. MYT Netherlands Parent shares surged by 40% pre-bell after announcing binding agreements to acquire 100% of the share capital of YOOX NET-A-PORTER from Richemont, in exchange for shares representing 33% of MYT's fully diluted share capital. **Financial** The Financial Select Sector SPDR Fund dipped by 0.2%.
Additionally, Direxion Daily Financial Bull 3X Shares fell by 0.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares, rose by 0.7%. Citizens Financial Group shares plummeted by 3.8% in pre-bell trading on Monday after the company filed a registration statement for the potential sale of an unspecified amount of securities. **Health Care** The Health Care Select Sector SPDR Fund retreated by 0.1%, with the Vanguard Health Care Index Fund gaining 0.1%, while the iShares US Healthcare ETF was up by 0.5%.
The iShares Biotechnology ETF remained flat. Pfizer shares increased nearly 3% in premarket trading after reports that the company might face a shareholder campaign spearheaded by Starboard Value, which has recently acquired a $1 billion stake in Pfizer. **Industrial** The Industrial Select Sector SPDR Fund declined by 0.3%, while the Vanguard Industrials Index Fund gained a slight 0.1%.
The iShares US Industrials ETF remained inactive. Rocket Lab USA stock increased by 1.8% after announcing its victory in securing a NASA contract to conduct a groundbreaking study on retrieving rock samples from the Martian surface for the first time. **Energy** The iShares US Energy ETF experienced a modest drop of 0.1%, while the Energy Select Sector SPDR Fund rose by 0.8%. Chevron saw a pre-bell increase of 1.2% after its Canadian unit announced an agreement with Canadian Natural Resources for the sale of its 20% non-operated ownership in the Athabasca Oil Sands project for $6.5 billion in cash. **Commodities** Front-month U.S.
West Texas Intermediate crude oil gained 1.8%, reaching $75.74 per barrel on the New York Mercantile Exchange. Natural gas fell by 1.2% to settle at $2.82 per 1 million British Thermal Units. The United States Oil Fund rose nearly 2%, whereas the United States Natural Gas Fund decreased by 0.7%. Gold futures for December increased by 0.1% to $2,671.30 an ounce on the Comex, while silver futures saw a decline of 1% to $32.06 an ounce.
The SPDR Gold Shares retreated by 0.3%, while the iShares Silver Trust was down 1.8%..