08:40 AM EDT, 06/02/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% lower in Monday's premarket activity as China accused the US of breaching their trade agreement following similar allegations from US President Trump over the weekend.

US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures declining by 0.5% before the start of regular trading.

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

Federal Reserve Dallas President Lorie Logan, and Chicago President Austan Goolsbee speak on Monday.

In premarket activity, bitcoin was down by 0.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 5.2% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.02%. The Vanguard Health Care Index Fund ( VHT ) was up 0.1% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) gained 0.2%.

Blueprint Medicines ( BPMC ) stock was up more than 26% premarket after Sanofi ( SNY ) agreed to acquire Blueprint in a deal worth up to $9.50 billion. Sanofi ( SNY ) shares were 0.5% lower.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.5%, and the iShares US Technology ETF ( IYW ) was 1.6% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was down 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) declined 0.6%.

Pony AI (PONY) shares were up more than 2% in recent Monday premarket activity after the company said it has partnered with Shenzhen Xihu Group to deploy more than 1,000 of its latest seventh-generation Robotaxis in Shenzhen over the next few years.

Energy

The iShares US Energy ETF ( IYE ) rose 1.7%, while the Energy Select Sector SPDR Fund ( XLE ) was up by 1.3%.

Flex LNG ( FLNG ) stock was up more than 1% before Monday's opening bell after the company said it completed a $175 million JOLCO lease refinancing for the vessel Flex Courageous, securing $42 million in net proceeds, extending debt maturity to 2035.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.2%, while the Vanguard Consumer Staples Fund (VDC) retreated 0.3%. The iShares US Consumer Staples ETF ( IYK ) was flat, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.8%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was inactive.

NIO (NIO) shares were up more than 1% pre-bell after the company said Sunday it delivered 23,231 vehicles in May, up 13.1% from the same month last year.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.5%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 1.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.6% higher.

KKR (KKR) shares were down more than 1% pre-bell Monday. The company said Monday it arranged a $600 million financing for Indian conglomerate Manipal Education and Medical Group.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) retreated 0.4% while the Vanguard Industrials Index Fund ( VIS ) gained 1.4% and the iShares US Industrials ETF ( IYJ ) was inactive.

Commodities

Front-month US West Texas Intermediate crude oil gained 4.1%, reaching $63.29 per barrel on the New York Mercantile Exchange. Natural gas rose 7% to $3.69 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 4.1% higher, while the United States Natural Gas Fund ( UNG ) rose 6.5%.

Gold futures for August were up 1.9% at $3,378.20 an ounce on the Comex, while silver futures advanced 1.2% to $33.42 an ounce. SPDR Gold Shares ( GLD ) rose 1.9%, and the iShares Silver Trust ( SLV ) was 0.7% higher.