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

The broad market exchange-traded fund SPDR S&P 500 ETF Trust was up 0.5% and the actively traded Invesco QQQ Trust advanced 0.6% in Monday's premarket activity, ahead of key inflation data due this week.

US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.5% before the start of regular trading.

The Chicago Fed National Activity Index for October will be released at 8:30 am ET, followed by the Dallas Fed Manufacturing Survey for November at 10:30 am ET.

In premarket activity, bitcoin was up 1.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF was 1.1% lower.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund was up 0.2%, while the Vanguard Consumer Staples Fund advanced 0.7%. The iShares US Consumer Staples ETF was inactive, and the Consumer Discretionary Select Sector SPDR Fund gained 0.7%. The VanEck Retail ETF was inactive, while the SPDR S&P Retail ETF rose 0.8%.

Bath & Body Works shares were up 11% pre-bell after the company reported higher fiscal Q3 adjusted earnings and revenue in addition to lifting its fiscal 2024 guidance.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund gained 0.6%, and the iShares US Technology ETF was 0.6% higher, while the iShares Expanded Tech Sector ETF was up 0.3%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF was up 2.3%, while the iShares Semiconductor ETF rose by 0.8%.

Mobix Labs shares were up 9% in recent Monday premarket activity after the company said it agreed to buy Spacecraft Components for $18 million to $24 million.

Industrial

Industrial Select Sector SPDR Fund advanced 0.6% while the Vanguard Industrials Index Fund was inactive. The iShares US Industrials ETF (IYJ) advanced 0.4%.

Rocket Lab USA stock was up more than 8% before the opening bell after the US Department of Commerce said the company has won up to $23.9 million in direct funding from the US government as part of the federal CHIPS Program.

Energy

The iShares US Energy ETF was up 0.5%, while the Energy Select Sector SPDR Fund was 0.2% higher.

EQT stock was up 4.3% before Monday's opening bell after the company said that it has entered into a definitive agreement with funds managed by Blackstone Credit & Insurance to form a new midstream joint venture valued at about $8.8 billion.

Health Care

The Health Care Select Sector SPDR Fund advanced 0.5%. The Vanguard Health Care Index Fund gained 0.1% while the iShares US Healthcare ETF was inactive. The iShares Biotechnology ETF was 1% higher.

Merck stock was up 1% premarket after the company said that its experimental drug for pulmonary arterial hypertension, Winrevair, met the primary endpoint in a phase 3 study.

Financial

Financial Select Sector SPDR Fund advanced 0.4%. Direxion Daily Financial Bull 3X Shares rose 1.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares fell 1.5%.

Morgan Stanley shares were up 1% pre-bell Monday after Bloomberg reported Sunday that the company received regulatory approval to set up its Middle East headquarters in Riyadh, Saudi Arabia.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.1% to $71.15 per barrel on the New York Mercantile Exchange. Natural gas was 4.8% higher at $3.28 per 1 million British Thermal Units. United States Oil Fund gained marginally by 0.01%, while the United States Natural Gas Fund rose 5%.

Gold futures for February were down nearly 1% at $2,708.20 an ounce on the Comex, while silver futures declined 1.7% to $31.24 an ounce. SPDR Gold Shares gained 5%, while the iShares Silver Trust was 1.6% lower.