08:22 AM EST, 12/16/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Monday's premarket activity, as traders anticipate interest rate cuts at the Federal Reserve's policy meeting due this week.

US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.4% before the start of regular trading.

The Empire State Manufacturing Index for December will be released at 8:30 am ET, followed by the S&P Global flash December composite purchasing managers' index, or PMI, at 9:45 am ET.

In premarket action, bitcoin was up by 0.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was flat, while the Vanguard Consumer Staples Fund (VDC) was up 0.3% The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.4%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was flat.

Webuy Global Ltd ( WBUY ) shares were up more than 125% pre-bell after the company said it has moved to the next stage in Nvidia's ( NVDA ) artificial intelligence accelerator program.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) gained 0.1%, and the iShares US Technology ETF ( IYW ) was marginally higher by 0.02%, while the iShares Expanded Tech Sector ETF ( IGM ) was up 1.3%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) retreated 0.3%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.

Roadzen ( RDZN ) shares were down more than 33% in recent Monday premarket activity after the company said late Sunday that it priced an underwritten public offering of 2 million shares at $1.25 each for $2.5 million in gross proceeds.

Health Care

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

PureTech Health ( PRTC ) stock was up 11% premarket after the company said a phase 2 clinical trial evaluating its drug deupirfenidone in idiopathic pulmonary fibrosis reached its primary endpoint.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.1% while the Vanguard Industrials Index Fund ( VIS ) gained 0.4% and the iShares US Industrials ETF ( IYJ ) rose 3.6%.

Honeywell International ( HON ) stock was up 3.7% before the opening bell after the company said it continues to consider strategic options to increase shareholder value, including the potential spinning off of its aerospace business, with an update to be part of its Q4 earnings report.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.3% lower.

Bridgewater Bancshares ( BWB ) shares were up 1.8% pre-bell Monday after the company said it closed the purchase of First Minnetonka City Bank.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.2%.

BP (BP) and XRG said they have reached a financial close and completed the formation of their Arcius Energy joint venture, a natural gas platform. BP stock was down 1.3% before Monday's opening bell.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.9% to $70.65 per barrel on the New York Mercantile Exchange. Natural gas fell 3.4% to $3.17 per 1 million British Thermal Units. United States Oil Fund ( USO ) lost 0.6%, while the United States Natural Gas Fund ( UNG ) was 3% lower.

Gold futures for February advanced 0.1% to $2,679.20 an ounce on the Comex, while silver futures increased by 0.3% to $31.13 an ounce. SPDR Gold Shares ( GLD ) gained 0.5%, while the iShares Silver Trust ( SLV ) was up by 0.7%.