08:46 AM EDT, 03/31/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 1.1% and the actively traded Invesco QQQ Trust (QQQ) retreated 1.5% in Monday's premarket activity amid an intensifying trade war expected to escalate further after tariff announcements in the prior week.

US stock futures were also lower, with S&P 500 Index futures down 1.1%, Dow Jones Industrial Average futures slipping 0.7%, and Nasdaq futures advancing 1.5% before the start of regular trading.

The March Chicago Purchasing Managers' Index is scheduled to be released at 9:45 am ET, while the Dallas Fed Manufacturing Survey for the same month is due at 10:30 am ET.

The farm prices report for February will be released at 3 pm ET.

In premarket activity, bitcoin was down by 0.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.7% lower.

Power Play:

Financial

Financial Select Sector SPDR Fund (XLF) retreated 1%. Direxion Daily Financial Bull 3X Shares ( FAS ) fell by 2.9%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 3.1% higher.

Hut 8 ( HUT ) shares were up more than 5% pre-bell Monday after the company said it created a new Bitcoin-focused unit, American Bitcoin, by transferring most of its mining machines to a joint venture backed by Eric Trump and Donald Trump Jr, among others.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.3%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF ( IYK ) edged up 0.01%, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) fell 1.8%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) lost 1.3%.

Alibaba Group ( BABA ) shares were down 2.7% pre-bell, continuing from Friday's 2.4% fall. The company said Monday it recorded a 27% year-over-year increase in US small and medium enterprises' orders during this year's March Expo.

Technology

Technology Select Sector SPDR Fund (XLK) fell 1.8%, and the iShares US Technology ETF ( IYW ) was 2% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was down 2%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) declined 2.5%, while the iShares Semiconductor ETF (SOXX) retreated by 2.4%.

Oracle (ORCL) shares were down more than 2% in recent Monday premarket activity after multiple news outlets reported the company's computer systems were accessed by hackers who stole patient data and attempted to extort US medical providers.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.4%. The Vanguard Health Care Index Fund ( VHT ) lost 0.3% while the iShares US Healthcare ETF ( IYH ) was flat. The iShares Biotechnology ETF (IBB) was down 1.5%.

Astrazeneca ( AZN ) stock was down 1.9% premarket after closing Friday with a 1.3% gain. The company said the US Food and Drug Administration has approved its drug Imfinzi to treat adult patients with muscle-invasive bladder cancer, in combination with other treatments.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) retreated 1.2% while the Vanguard Industrials Index Fund ( VIS ) was inactive and the iShares US Industrials ETF ( IYJ ) advanced 0.2%.

Boeing ( BA ) stock was down nearly 2% before the opening bell, continuing from Friday's 3.2% fall at close. The company said Sunday it received an order for 50 737-8 Max jets from BOC Aviation.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was flat.

Commodities

Front-month US West Texas Intermediate crude oil was up 0.4% at $69.63 per barrel on the New York Mercantile Exchange. Natural gas rose 2.8% to $4.18 per 1 million British Thermal Units. United States Oil Fund ( USO ) gained 0.7%, while the United States Natural Gas Fund ( UNG ) was up 2.8%.

Gold futures for June rose 1.1% to $3,149.60 an ounce on the Comex, while silver futures advanced 0.3% to $34.91 an ounce. SPDR Gold Shares ( GLD ) were up 1.4%, and the iShares Silver Trust ( SLV ) was 0.1% higher.