08:30 AM EDT, 07/29/2024 (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 0.7% higher in Monday's premarket activity, ahead of earnings reports from big tech names this week.

US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures gaining 0.7% before the start of regular trading.

The Dallas Fed Manufacturing Survey for July will be released at 10:30 am ET.

In premarket action, bitcoin was up by 2.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was 2.2% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) was flat. The Vanguard Health Care Index Fund ( VHT ) was up 1.7% while the iShares US Healthcare ETF ( IYH ) was up 0.6% and the iShares Biotechnology ETF ( IBB ) was up 0.5%.

Philips (PHG) shares were up 10% premarket after the company reported higher Q2 adjusted earnings and reaffirmed its guidance for 2024.

Winners and Losers:

Energy

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

Oil States International ( OIS ) stock was up 5.5% before Monday's opening bell after the company reported higher Q2 financial results.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.6% while the Vanguard Industrials Index Fund ( VIS ) was up 1% and the iShares US Industrials ETF ( IYJ ) was inactive.

Ehang ( EH ) stock gained 4.1% before the opening bell after the company announced the delivery of the first batch of EH216-S eVTOL aircraft to Xishan Tourism and the successful completion of debut passenger-carrying flights in Taiyuan.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.5%, while the Vanguard Consumer Staples Fund (VDC) was up 0.1%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.2%. The VanEck Retail ETF ( RTH ) was inactive while the SPDR S&P Retail ETF ( XRT ) was down 1.1%.

Alibaba Group Holding ( BABA ) shares traded up 2.8% in pre-market activity Monday after Bloomberg News reported, citing a person familiar with the matter, a change in company policy to earn more service fees from merchants.

Financial

Financial Select Sector SPDR Fund ( XLF ) gained 0.4%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 1.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was nearly 1% lower.

Affiliated Managers Group ( AMG ) shares were down 2.8% pre-bell Monday after the company reported lower Q2 revenue, trailing analyst expectations.

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.7%, and the iShares US Technology ETF ( IYW ) was 1% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was up 5.7%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was up 0.4%, while the iShares Semiconductor ETF ( SOXX ) rose by 1.6%.

Palantir Technologies ( PLTR ) was up 1.4% in recent Monday premarket activity after the company said it partnered with Tree Energy Solutions, a producer of electric natural gas derived from green hydrogen, to support its green energy transition and decarbonization.

Commodities

Front-month US West Texas Intermediate crude oil lost 0.4% to $76.87 per barrel on the New York Mercantile Exchange. Natural gas was down 0.1% at $2.049 per 1 million British Thermal Units. United States Oil Fund ( USO ) rose 0.1%, while the United States Natural Gas Fund ( UNG ) was 0.8% higher.

Gold futures for December were up 0.2% to $2,386 an ounce on the Comex, while silver futures gained 0.4% at $28.16 an ounce. SPDR Gold Shares ( GLD ) gained 0.2%, and iShares Silver Trust ( SLV ) was 0.3% higher.