The broad market exchange-traded fund SPDR S&P 500 ETF Trust ($SPY) saw a rise of 0.2%, while the actively traded Invesco QQQ Trust ($QQQ) increased by 0.1% in Monday's premarket activity as investors turn their attention to US presidential elections and the upcoming Federal Reserve policy meeting. US stock futures also showed slight gains, with S&P 500 Index futures rising 0.1%, Dow Jones Industrial Average futures up by 0.01%, and Nasdaq futures increasing by 0.1% prior to regular trading hours. The factory orders report for September is scheduled to be released at 10 am ET. In premarket activity, bitcoin saw a marginal increase of 0.02%, while the cryptocurrency fund ProShares Bitcoin Strategy ETF ($BITO) declined by 0.7%. Power Play: Industrial The Industrial Select Sector SPDR Fund ($XLI) remained unchanged, whereas the Vanguard Industrials Index Fund ($VIS) rose by 1.1%.
The iShares US Industrials ETF (IYJ) remained inactive. In a significant development, Air Transport Services Group ($ATSG) stock surged more than 24% before the market opened after reports suggested that the company is in advanced talks to be acquired by Stonepeak for approximately $3.1 billion. Winners and Losers: Energy The iShares US Energy ETF ($IYE) was flat, but the Energy Select Sector SPDR Fund ($XLE) rose by 0.9%.
Centrus Energy ($LEU) shares plummeted over 13% prior to the opening bell after announcing a plan to offer $350 million in convertible senior notes due 2030. Financial Sector Insights The Financial Select Sector SPDR Fund (XLF) experienced a decline of 0.2%. Direxion Daily Financial Bull 3X Shares ($FAS.US) was down by 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares ($FAZ), increased by 0.4%.
Notably, B. Riley Financial-backed ($RILY) stock saw a nearly 8% drop in pre-market trading following news that the Franchise Group, which B. Riley funds, had initiated voluntary Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware. Consumer Sector Update Within the consumer sector, the Consumer Staples Select Sector SPDR Fund ($XLP) lost 0.1%, while the Vanguard Consumer Staples Fund ($VDC) gained 0.7%.
The iShares US Consumer Staples ETF ($IYK) was inactive, contrasted with a 0.2% loss in the Consumer Discretionary Select Sector SPDR Fund ($XLY). The VanEck Retail ETF ($RTH) remained inactive, whereas the SPDR S&P Retail ETF ($XRT) retreated by 0.7%. On a positive note, Yum China Holdings ($YUMC) shares rose over 7% ahead of the bell after reporting higher Q3 earnings and revenues. Health Care Sector Movement In the health care sector, the Health Care Select Sector SPDR Fund ($XLV) dipped by 0.1%.
The Vanguard Health Care Index Fund ($VHT) marginally increased by 0.02%, while the iShares US Healthcare ETF ($IYH) was inactive. The iShares Biotechnology ETF ($IBB) fell by 0.2%. Viking Therapeutics ($VKTX) stock climbed more than 7% during premarket trading after the company disclosed positive clinical data from two studies on its VK2735 product candidate, which targets various metabolic disorders. Technology Sector Performance In technology, the Technology Select Sector SPDR Fund (XLK) advanced by 0.3%, with the iShares US Technology ETF ($IYW) also up by 0.2%.
The iShares Expanded Tech Sector ETF ($IGM.US) remained inactive. Among semiconductor ETFs, the SPDR S&P Semiconductor ETF ($XSD) showed a 0.3% increase, while the iShares Semiconductor ETF ($SOXX) rose by 0.2%. Notably, Nvidia ($NVDA) shares increased nearly 2% in recent Monday premarket trading after S&P Dow Jones Indices announced that the company will replace Intel ($INTC) in the Dow Jones Industrial Average effective Nov.
8. Meanwhile, Intel shares fell by 1.3% before the market opened. Commodity Trends On the commodities front, US West Texas Intermediate crude oil for front-month delivery rose nearly 3% to $71.55 per barrel on the New York Mercantile Exchange. Natural gas prices fell by 1.7% to $2.62 per 1 million British Thermal Units.
The United States Oil Fund (USO) saw a 3% increase, while the United States Natural Gas Fund (UNG) dropped by 1.6%. Gold futures for December gained 0.1% to $2,751.30 an ounce on the Comex, while silver futures rose by 0.8% to reach $32.93 an ounce. SPDR Gold Shares ($GLD) increased by 0.3%, and iShares Silver Trust ($SLV) was 1.3% higher..