The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.6% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Monday's premarket activity, amid declining hopes of substantial rate cuts this year.

US stock futures were also lower, with S&P 500 Index futures down 0.7%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures falling 1% before the start of regular trading.

In premarket action, bitcoin was down by 4.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.6% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.1%. The Vanguard Health Care Index Fund (VHT) was down 0.1% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) declined 0.6%.

Moderna (MRNA) stock was down more than 18% premarket after the company said it now expects 2025 revenue to be between $1.5 billion and $2.5 billion, down from the previous range of $2.5 billion to $3.5 billion.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund (XLI) declined 0.3%, and the Vanguard Industrials Index Fund (VIS) retreated 0.5%, while the iShares US Industrials ETF (IYJ) was inactive.

SuperCom (SPCB) stock was down more than 7% before the opening bell, partially reversing gains from the nearly 12% rise in the previous closing. The company said it received a new electronic monitoring contract for a Juvenile Probation Agency in Ohio, marking its first contract with a government agency in the state.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.1%, while the Vanguard Consumer Staples Fund (VDC) was up 1.4%. The iShares US Consumer Staples ETF (IYK) and the Consumer Discretionary Select Sector SPDR Fund (XLY) were inactive. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 0.6% lower.

Lululemon Athletica (LULU) shares were up nearly 3% pre-bell after the company raised its guidance for fiscal Q4 earnings and revenue.

Energy

The iShares US Energy ETF (IYE) was down 0.3%, while the Energy Select Sector SPDR Fund (XLE) was up by 0.6%.

W&T Offshore (WTI) stock was up 3.5% before Monday's opening bell after the company said that it plans to offer $350 million of senior second lien notes due 2029 in a private offering.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 1%, and the iShares US Technology ETF (IYW) declined 1.3%, while the iShares Expanded Tech Sector ETF (IGM) was down 1.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) fell 2%, while the iShares Semiconductor ETF (SOXX) was 1.9% lower.

Ichor Holdings (ICHR) shares were down nearly 3% in recent Monday premarket activity after Needham downgraded the company to hold from buy.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.3% higher.

Blue Owl Capital (OWL) shares were down over 1% pre-bell Monday after the company said it is now sponsoring certain tennis players participating in all Grand Slam tournaments this year.

Commodities

Front-month US West Texas Intermediate crude oil gained 2.2% at $78.28 per barrel on the New York Mercantile Exchange. Natural gas rose 2.3% to $4.08 per 1 million British Thermal Units. United States Oil Fund (USO) was up 1.6%, while the United States Natural Gas Fund (UNG) advanced 2.1%.

Gold futures for February retreated 0.8% to $2,692.60 an ounce on the Comex, while silver futures declined 2.7% to $30.48 an ounce. SPDR Gold Shares (GLD) lost 0.7%, while the iShares Silver Trust (SLV) was 1.8% lower.s