In Monday's premarket activity, the broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) increased by 0.4%, while the actively traded Invesco QQQ Trust ($QQQ) rose by 0.5%. Investors are anticipating the upcoming inflation report set to be released later this week. US stock futures also reflected a positive trend, with S&P 500 Index futures climbing 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.4% before regular trading commenced. During premarket action, bitcoin surged by 4.3%, and the cryptocurrency fund ProShares Bitcoin Strategy ETF ($BITO) saw a significant rise of 7.6%.
In the technology sector, the Technology Select Sector SPDR Fund (XLK) edged up 0.04%, while the iShares US Technology ETF ($IYW) increased by 0.4%. However, the iShares Expanded Tech Sector ETF ($IGM.US) experienced a decline of 1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ($XSD) showed no activity, and the iShares Semiconductor ETF ($SOXX) dropped by 0.5%. Sapiens International ($SPNS) faced a setback, with shares plummeting over 21% in recent premarket trading after the company revealed lower-than-expected Q3 revenue and downgraded its outlook for 2024 non-GAAP revenue. In the healthcare sector, the Health Care Select Sector SPDR Fund ($XLV) gained 0.2%.
The Vanguard Health Care Index Fund ($VHT) rose by 0.3%, and the iShares US Healthcare ETF ($IYH) saw a gain of 0.6%. Additionally, the iShares Biotechnology ETF ($IBB) was up by 0.5%. Notably, RadNet ($RDNT) stock experienced a remarkable 20% increase prior to market openings, following the company's announcement of higher Q3 adjusted earnings and revenue. In industrial stocks, the Industrial Select Sector SPDR Fund ($XLI) advanced 0.4%, while the Vanguard Industrials Index Fund ($VIS) and the iShares US Industrials ETF (IYJ) did not show activity.
Aramark ($ARMK) stock surged nearly 3% after reporting higher fiscal Q4 adjusted earnings and revenue. Within the financial sector, the Financial Select Sector SPDR Fund (XLF) increased by 1%. The Direxion Daily Financial Bull 3X Shares ($FAS.US) rose 3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), fell by 2.7%.
Deutsche Bank ($DB) shares were up 1.8% in pre-bell trading on reports of the company terminating 111 senior managers in its retail and private wealth divisions. Consumer sector metrics revealed that the Consumer Staples Select Sector SPDR Fund ($XLP) increased by 0.1%, while the Vanguard Consumer Staples Fund ($VDC) remained flat.
The iShares US Consumer Staples ETF ($IYK) had no activity, though the Consumer Discretionary Select Sector SPDR Fund ($XLY) gained 1.5%. The VanEck Retail ETF ($RTH) also did not see any movement, while the SPDR S&P Retail ETF ($XRT) remained flat. Stellantis ($STLA) shares rose 1.3% as the company announced an offtake agreement with Novonix ($NVX), which will provide a minimum of 86,250 tons of synthetic graphite, with a potential target of up to 115,000 tons.
Novonix's shares climbed by 13% following the news. In the energy sector, the iShares US Energy ETF ($IYE) did not exhibit activity, while the Energy Select Sector SPDR Fund ($XLE) remained flat. Within commodities, front-month US West Texas Intermediate crude oil prices dropped 2.2% to $68.83 per barrel on the New York Mercantile Exchange.
Conversely, natural gas prices surged 7% to $2.86 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 2.3%, whereas the United States Natural Gas Fund (UNG) rose 8%. Gold futures for December decreased by 1% to $2,667.20 an ounce on the Comex, while silver futures declined 0.4% to $31.34 an ounce.
SPDR Gold Shares ($GLD) saw a drop of 1.1%, along with iShares Silver Trust ($SLV) retreating by 0.7%..