Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday as Traders Mull US Actions in Venezuela

MT Newswires Live
01/05

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 0.6% higher in Monday's premarket activity as traders assess the impact of US actions in Venezuela.

US stock futures were mixed, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.7% before the start of regular trading.

The Institute for Supply Management's manufacturing index for December will be released at 10 am ET.

In premarket activity, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.5% higher, Ether ETF (EETH) advanced 1.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.2%.

Power Play:

Energy

The iShares US Energy ETF (IYE) was up 4.1%, and the State Street Energy Select Sector SPDR ETF (XLE) rose by 4.1%.

Chevron (CVX) stock was up more than 6% and Exxon Mobil (XOM) gained more than 3% as oil company stocks rose premarket Monday after the US said American oil companies would invest to restore crude production in Venezuela.

Winners and Losers:

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) was flat, while the Vanguard Industrials Index Fund (VIS) gained 0.2% and the iShares US Industrials ETF (IYJ) was inactive.

KBR (KBR) stock was up more than 3% before the opening bell after the company said that the US Geological Survey has awarded it a technical support services contract with a $350 million ceiling.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) advanced by 1%, the iShares US Technology ETF (IYW) was 1% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 1.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.1%, while the iShares Semiconductor ETF (SOXX) rose by 1.9%.

Ambarella (AMBA) shares were up nearly 2% in recent premarket activity after the company said it launched the CV7 edge AI vision system-on-chip, optimized for various artificial intelligence perception applications.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.1%. The iShares US Consumer Staples ETF (IYK) decreased by 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.2%.

Tesla's (TSLA) shares were up more than 1% pre-bell after news outlets reported that the EV-maker's delivery of vehicles produced in China rose 3.6% in December compared with a year earlier.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.5%. The Vanguard Health Care Index Fund (VHT) was down 0.3% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.1% lower.

Novo Nordisk (NVO) stock was up more than 1% premarket after closing Friday with a 3% rise. The company announced the prices for its recently approved Wegovy pills in the US, with the lowest doses starting at $149 per month.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.

Sumitomo Mitsui Financial Group (SMFG) shares were up more than 1% pre-bell after the European Commission said the company and Jefferies (JEF) were cleared for the formation of a joint venture between the two companies. Jefferies' stock was 0.1% higher.

Commodities

Front-month US West Texas Intermediate crude oil was up 0.8% at $57.79 per barrel on the New York Mercantile Exchange. Natural gas fell 4.5% to $3.46 per 1 million British Thermal Units. The United States Oil Fund (USO) gained by 0.9%, while the United States Natural Gas Fund (UNG) was 6% lower.

Gold futures for February rose by 2.1% to $4,420.60 an ounce on the Comex, and silver futures advanced 4.9% to $74.52 an ounce. SPDR Gold Shares (GLD) was up by 1.8%, and the iShares Silver Trust (SLV) was 3.7% higher.

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