08:28 AM EDT, 07/15/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.5% higher in Monday's premarket activity as investors bet on former President Donald Trump winning the US election.

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 Empire State Manufacturing Index for July will be released at 8:30 am ET. Federal Reserve Chair Jerome Powell is slated to speak at 12 pm ET, while San Francisco Fed President Mary Daly speaks at 4:35 pm ET.

In premarket activity, bitcoin was up by 4.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was 8.1% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.8%. The Vanguard Health Care Index Fund ( VHT ) was up 0.3% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF ( IBB ) was 0.7% higher.

Scinai Immunotherapeutics ( SCNI ) shares were up more than 47% premarket after the company said that preclinical study results of its experimental therapy for mild to moderate plaque psoriasis showed efficacy.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.4%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 1.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.1% lower.

Coinbase (COIN) shares were up 4.6% in premarket activity on Monday, while Riot Games (RIOT) and Marathon Digital ( MARA ) gained 5.5% and 5.2%, respectively, amid the jump in the price of bitcoin.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) rose 0.7%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was 0.8% higher.

Tesla (TSLA) stock traded up nearly 4% pre-bell Monday after Elon Musk endorsed former US President Donald Trump in a Saturday post on X, formerly known as Twitter.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.4% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Cleveland-Cliffs ( CLF ) shares were down 2.9% before the opening bell after the company said it agreed to acquire Stelco in a deal valuing the company at $2.50 billion.

Technology

Technology Select Sector SPDR Fund ( XLK ) gained 0.5%, and the iShares US Technology ETF ( IYW ) was 0.9% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was up 1.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was flat, while the iShares Semiconductor ETF ( SOXX ) rose 1%.

Apple ( AAPL ) shares were up 2% in recent Monday premarket activity after preliminary data from the International Data Corporation Worldwide Quarterly Mobile Phone Tracker showed that Apple ( AAPL ) shipped over 45.2 million iPhones in Q2, compared with 44.5 million a year earlier. Bloomberg also reported that the company's annual sales in India rose to nearly $8 billion from $6 billion a year earlier.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.5%.

BP (BP) shares were down 0.5% before Monday's opening bell after Morgan Stanley downgraded the company to equalweight from overweight and lowered its price target to $41.50 from $49.90.

Commodities

Front-month US West Texas Intermediate crude oil lost 0.2% to reach $82.03 per barrel on the New York Mercantile Exchange. Natural gas retreated 2.5% to $2.27 per 1 million British Thermal Units. United States Oil Fund ( USO ) was down 0.2%, while the United States Natural Gas Fund ( UNG ) was 2.5% lower.

Gold futures for August were up 0.2% at $2,424.40 an ounce on the Comex, while silver futures fell 0.4% to $31.05 an ounce. SPDR Gold Shares ( GLD ) gained 0.2%, and iShares Silver Trust ( SLV ) was 0.04% lower.