09:10 AM EDT, 03/18/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7% and the actively traded Invesco QQQ Trust (QQQ) was 1.2% higher in Monday's premarket activity as investors look forward to the US Federal Open Market Committee's interest rate decision on Wednesday.

US stock futures were also higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 1.2% before the start of regular trading.

The US housing market index report for March will be released at 10:00 a.m. ET.

In premarket action, bitcoin was up by 0.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower.

Power Play:

Industrial

Industrial Select Sector SPDR Fund (XLI) added 0.3%. The Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were both flat.

Solidion Technology ( STI ) shares surged over 87% before the opening bell on Monday after saying Friday it signed a securities purchase agreement with certain institutional investors for total gross proceeds of roughly $3.85 million.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.3%. The Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were both flat. The iShares Biotechnology ETF (IBB) was unchanged.

2seventy bio (TSVT) shares were up almost 18% in Monday's premarket activity after announcing with Bristol-Myers Squibb ( BMY ) that the US Food and Drug Administration voted "positively" on the companies' phase 3 KarMMa-3 study that showed a favorable profile for Abecma in participants with triple-class exposed relapsed or refractory multiple myeloma.

Technology

Technology Select Sector SPDR Fund (XLK) was up by 0.8%. The iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) advanced 1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) gained 0.6%, while the iShares Semiconductor ETF (SOXX) advanced 1.8%.

Shift4 Payments ( FOUR ) shares fell nearly 9% in recent Monday premarket activity after Chief Executive Jared Isaacman reportedly told staff that buyout bids failed to "sufficiently value" the company.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up by 0.1%, and the Vanguard Consumer Staples Fund (VDC) was 1.5% higher. The iShares US Consumer Staples ETF (IYK) was declining 0.7%, while the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.8%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were both inactive.

XPeng ( XPEV ) stock jumped more than 6% before Monday's opening bell after multiple media outlets reported Saturday that the company is planning to roll out a line of cheaper electrical vehicles under a different brand name within April.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down by 0.9%.

B. Riley Financial ( RILY ) shares were down 13% in pre-bell Monday after Levi & Korsinsky filed a class action lawsuit against the company that sought to recover shareholders' losses who were impacted by alleged securities fraud between May 10 and Nov. 9 last year.

Energy

The iShares US Energy ETF (IYE) was flat, while the Energy Select Sector SPDR Fund (XLE) was up by 0.4%.

Obsidian Energy ( OBE ) was 0.4% higher in recent Monday premarket activity after saying in a regulatory filing that it completed its offer to purchase up to 2 million Canadian dollars ($1.5 million) of its 11.95% senior unsecured notes due July 27, 2027.

Commodities

Front-month US West Texas Intermediate crude oil was up 0.4% to $80.92 per barrel on the New York Mercantile Exchange. Natural gas gained 5.1% to $1.74 per 1 million British Thermal Units. United States Oil Fund (USO) gained 0.5%, while the United States Natural Gas Fund (UNG) was 3% higher.

Gold futures for April advanced 0.2% to $2,165.2 an ounce on the Comex, and silver futures were up 0.1% at $25.405 an ounce. SPDR Gold Shares (GLD) advanced 0.2%, and iShares Silver Trust (SLV) gained 0.3%.