Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Ahead of Economic Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.8% higher in Monday's premarket activity, ahead of economic data due this week.

US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing marginally, and Nasdaq futures gaining 0.6% before the start of regular trading.

The S&P Global May PMI manufacturing final will be released at 9:45 am ET, followed by the ISM Manufacturing Index and the April construction spending index at 10 am ET.

In premarket action, bitcoin was up by 2.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was nearly 4% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.6%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 2.5% higher.

GameStop (GME)'s share price traded up more than 75% in recent premarket activity Monday after trader Keith Gill posted on his Reddit account "Roaring Kitty" a screenshot showing five million shares bought at $21.27 each, amounting to an almost $116 million bet on the game retailer.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) added 0.2%. The Vanguard Health Care Index Fund (VHT) was up 1% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) gained 0.3%.

GSK (GSK) shares were down more than 8% premarket Monday after a Delaware court ruled Friday that the company should face trials over allegations that its heartburn treatment Zantac causes cancer.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.4% lower.

Fanhua (FANH) shares were down 2.8% pre-bell after the company said it signed an agreement with Baidu (BIDU) AI Cloud to develop an AI-supported insurance sales assistant.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced marginally and the Vanguard Industrials Index Fund (VIS) was up 1.8%, while the iShares US Industrials ETF (IYJ) was inactive.

Waste Management (WM) shares were down 1.5% before the opening bell after the company said it would buy Stericycle (SRCL) for about $7.20 billion, including $1.40 billion of Stericycle's net debt, the companies said Monday.

Technology

Technology Select Sector SPDR Fund (XLK) gained 0.6%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was down 3.2%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.

Nvidia (NVDA) shares rose 3.3% in recent Monday premarket activity after the company said Sunday it is now offering enterprise software support that will provide real-time AI computing for various uses and unveiled an RTX technology for AI assistants and digital humans on new GeForce RTX AI laptops.

Energy

The iShares US Energy ETF (IYE) was up 3.8%, while the Energy Select Sector SPDR Fund (XLE) was down by 0.1%.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.2% to $77.13 per barrel on the New York Mercantile Exchange. Natural gas was 4.6% higher at $2.71 per 1 million British Thermal Units. United States Oil Fund (USO) was down marginally, while the United States Natural Gas Fund (UNG) gained 6.3%.

Gold futures for August were up 0.2% to $2,351 an ounce on the Comex, while silver futures gained 0.4% to $30.57 an ounce. SPDR Gold Shares (GLD) advanced marginally by 0.04%, and iShares Silver Trust (SLV) was down 0.1%.