08:36 AM EDT, 08/12/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Monday's premarket activity, ahead of a week packed with economic data releases.

US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.2% before the start of regular trading.

The NY Federal Reserve report on consumer inflation expectations will be released at 11 am ET.

In premarket action, bitcoin was up by 0.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF ( BITO ) was nearly 2% lower.

Power Play:

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.2%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.5% lower.

KeyCorp ( KEY ) shares rallied past 20% premarket Monday after the Bank of Nova Scotia ( BNS ) agreed to make a $2.8 billion investment for a 14.9% equity interest. The Bank of Nova Scotia ( BNS ) advanced 0.3%.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund ( XLK ) advanced 0.4%, the iShares US Technology ETF ( IYW ) was inactive, while the iShares Expanded Tech Sector ETF ( IGM ) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF ( SOXX ) rose by 0.4%.

Monday.com ( MNDY ) shares were up more than 8% in recent Monday premarket activity after the company reported higher Q2 results and lifted its 2024 revenue guidance.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.3%. 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 flat.

Fortrea Holdings ( FTRE ) stock was down more than 10% premarket after the company swung to a Q2 adjusted loss and lower revenue.

Energy

The iShares US Energy ETF ( IYE ) was down 3%, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.6%.

Borr Drilling ( BORR ) shares were up 4.3% before Monday's opening bell after the company said late Friday its IHC unit priced an offering of an additional 10% senior secured notes due 2028 for gross proceeds of about $150 million.

Consumer

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

Life Time Group Holdings ( LTH ) stock traded down by more than 5% pre-bell after the company said that it and existing stockholders plan to sell 6 million shares each in an underwritten public offering.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) was down 0.1% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Rocket Lab USA ( RKLB ) stock gained 1.5% before the opening bell after the company said Sunday it had launched its 52nd electron rocket and deployed a Capella Space satellite into low-Earth orbit.

Commodities

Front-month US West Texas Intermediate crude oil advanced by 1.1% to $77.69 per barrel on the New York Mercantile Exchange. Natural gas was up 4.5% at $2.24 per 1 million British Thermal Units. United States Oil Fund ( USO ) rose by 1%, while the United States Natural Gas Fund ( UNG ) was 4% higher.

Gold futures for December gained 0.3% to $2,480.30 an ounce on the Comex, while silver futures were up 1.3% at $27.95 an ounce. SPDR Gold Shares ( GLD ) advanced 0.4%, and iShares Silver Trust ( SLV ) 1.9% higher.