09:00 AM EST, 02/02/2026 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.7% lower in Monday's premarket activity as investors react to a sharp downturn in precious metals.

US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.7% before the start of regular trading.

The final US Manufacturing Purchasing Managers' Index for January will be released at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for January at 10 am ET.

In premarket activity, bitcoin was up by 1.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 6.9% lower, Ether ETF (EETH) fell by 13%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 6.3%.

Power Play:

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.2% lower.

Patria Investments ( PAX ) shares were down more than 6% pre-bell after the company said it has agreed to acquire WP Global Partners, a US-based private equity solutions manager focused on the lower-middle market.

Winners and Losers:

Energy

The iShares US Energy ETF ( IYE ) was down 0.9%, while the State Street Energy Select Sector SPDR ETF ( XLE ) fell by 1.5%.

Coterra Energy ( CTRA ) stock was down more than 3% before Monday's opening bell, while Devon Energy ( DVN ) retreated 1% after the companies said they have agreed to merge in an all-stock deal valued at $58 billion.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained marginally by 0.03%. The iShares US Consumer Staples ETF ( IYK ) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.3%. The VanEck Retail ETF ( RTH ) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.4%.

Aptiv ( APTV ) shares were down more than 3% pre-bell after the company's Q1 adjusted earnings guidance fell short of estimates from analysts polled by FactSet.

Health Care

The State Street Health Care Select Sector SPDR ETF ( XLV ) advanced 0.2%. The Vanguard Health Care Index Fund ( VHT ) was down 0.02%, while the iShares US Healthcare ETF ( IYH ) gained 0.2%. The iShares Biotechnology ETF (IBB) was down 0.1%

Sanofi ( SNY ) stock was up more than 1% premarket after the company said venglustat met its primary goal in a phase 3 study involving adult and pediatric patients with neurological symptoms of type 3 Gaucher disease.

Industrial

The State Street Industrial Select Sector SPDR ETF ( XLI ) retreated by 0.3% while the Vanguard Industrials Index Fund ( VIS ) was down 0.6% and the iShares US Industrials ETF ( IYJ ) was 0.1% lower.

ESAB ( ESAB ) stock was down more than 1% before the opening bell after the company said that it signed a deal to acquire Eddyfi Technologies, which provides advanced inspection and monitoring technology, for $1.45 billion.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.4%, and the iShares US Technology ETF ( IYW ) was 0.2% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was down 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF ( XSD ) declined by 1%, while the iShares Semiconductor ETF (SOXX) decreased by 1%.

Nvidia ( NVDA ) shares were down more than 1% in recent premarket activity after Bloomberg cited CEO Jensen Huang as saying that the company's proposed $100 billion investment in Microsoft ( MSFT )-backed (MSFT) OpenAI was "never a commitment," but would be Nvidia's ( NVDA ) "largest investment" ever made.

Commodities

Front-month US West Texas Intermediate crude oil was down by 4.9% at $62 per barrel on the New York Mercantile Exchange. Natural gas fell 17% to $3.60 per 1 million British Thermal Units. The United States Oil Fund ( USO ) declined by 5.8%, while the United States Natural Gas Fund ( UNG ) was 17% lower.

Gold futures for March advanced 1.4% to $4,812.30 an ounce on the Comex. Silver futures rose by 6% to $83.23 an ounce. SPDR Gold Shares ( GLD ) retreated by 1.4%, and the iShares Silver Trust ( SLV ) was down 0.5%.