Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Monday as Investors Refocus on Earnings

MT Newswires Live
2024-11-18

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Monday's premarket activity as investors refocused on earnings with NVIDIA (NVDA) on tap for Wednesday.

US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.3% before the start of regular trading.

The National Association of Home Builders Housing Market Index will be released at 10 am ET.

Federal Reserve Chicago President Austan Goolsbee is slated to speak at 10 am ET.

In premarket activity, bitcoin was up by 1.1%, while the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.2%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) gained 0.4%.

CareMax (CMAX) stock was down 37% premarket after the company said on Sunday that it had initiated Chapter 11 proceedings to facilitate asset sales under a prearranged plan supported by secured lenders.

Winners and Losers:

Energy

The iShares US Energy ETF (IYE) was down 2,5%, while the Energy Select Sector SPDR Fund (XLE) was up by 0.4%.

Liberty Energy (LBRT) stock was up more than 6% before Monday's opening bell after the company said it plans to appoint William Kimble as non-executive board chairman and Ron Gusek as chief executive officer, should Liberty's founder Chris Wright become the US energy secretary.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.2% while the Vanguard Industrials Index Fund (VIS) was down 0.2% and the iShares US Industrials ETF (IYJ) was 0.3% lower.

EHang Holdings (EH) stock was up 5% before the opening bell after the company swung to Q3 adjusted earnings and reported higher revenue.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.02%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.

MARA Holdings (MARA) shares were down 4% pre-bell Monday after the company said it is planning a private offering of $700 million of unsecured convertible senior notes due 2030.

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.1%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.

NVIDIA's (NVDA) shares were down more than 2% in recent Monday premarket activity after Reuters reported Sunday, citing the Information, that the chipmaker's new Blackwell AI chips are having problems with accompanying servers that overheat.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was marginally down by 0.02%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 1.3%. The VanEck Retail ETF (RTH) rose 5.5%, while the SPDR S&P Retail ETF (XRT) advanced 0.5%.

MakeMyTrip (MMYT) shares were up nearly 1% pre-bell after the company said it has agreed to acquire CRED's Happay expense management platform.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.5% to reach $67.34 per barrel on the New York Mercantile Exchange. Natural gas rose by 1.7% to $2.87 per 1 million British Thermal Units. United States Oil Fund (USO) advanced by 0.7%, while the United States Natural Gas Fund (UNG) was 1.2% higher.

Gold futures for December were up 1.1% at $2,597.60 an ounce on the Comex, while silver futures advanced 1.4% to $30.85 an ounce. SPDR Gold Shares (GLD) gained by 1.1%, and iShares Silver Trust (SLV) was 1.8% higher.

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