The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1.1% and the actively traded Invesco QQQ Trust (QQQ) was 1.6% lower in Monday's premarket activity after Moody's downgraded the US sovereign credit rating.

US stock futures were also lower, with S&P 500 Index futures down 0.01%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining marginally before the start of regular trading.

Atlanta Federal Reserve President Raphael Bostic will speak at 8:30 am ET.

New York President John Williams speaks at 8:45 am ET.

The Q1 e-commerce retail sales bulletin and the April leading indicators report will be released at 10 am ET.

Dallas Fed President Lorie Logan will speak at 1:15 pm ET, followed by Minneapolis Fed President Neel Kashkari at 1:30 pm ET.

In premarket activity, bitcoin was down by 0.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% lower.

Power Play:

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was down by 0.8%.

Sable Offshore (SOC) stock was up more than 19% before Monday's opening bell after the company said it restarted production at the Santa Ynez Unit, with oil now flowing to Las Flores Canyon at about 6,000 barrels per day.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) lost 0.03%. The Vanguard Health Care Index Fund (VHT) was down 0.2% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) retreated 0.7%.

Intellia Therapeutics (NTLA) stock was up more than 6% premarket after the company said Sunday it received "positive" two-year follow-up data from an ongoing phase 1 trial of its investigational drug nexiguran ziclumeran for the potential treatment of hereditary transthyretin amyloidosis with polyneuropathy.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.8% while the Vanguard Industrials Index Fund (VIS) was down 2.4% and the iShares US Industrials ETF (IYJ) was inactive.

Ryanair (RYAAY) stock was up 5% before the opening bell after the company reported higher fiscal 2025 operating revenue. A surge in demand for air travel across Europe would lead to a rebound in prices and an increase in profits from last year, multiple news outlets reported, citing Ryanair officials.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) fell 2.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.6% higher.

B. Riley Financial (RILY) shares were down more than 4% pre-bell Monday. The company appointed Scott Yessner as chief financial officer, starting June 3.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 1.7%, and the iShares US Technology ETF (IYW) was down 1.9%, while the iShares Expanded Tech Sector ETF (IGM) fell 2%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) dropped 3.2%, while the iShares Semiconductor ETF (SOXX) was 2.3% lower.

Nvidia (NVDA) shares were down more than 2% in recent Monday premarket activity. The company launched cloud-to-robot artificial intelligence computing platforms for robotics applications.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.3%, while the Vanguard Consumer Staples Fund (VDC) declined 0.2%. The iShares US Consumer Staples ETF (IYK) retreated 0.3%, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 1.4%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 1.7% lower.

Walmart (WMT) shares were down nearly 2% pre-bell after President Donald Trump on Saturday accused the retailer of using tariffs as an excuse to increase prices despite strong profits.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.9% to $61.96 per barrel on the New York Mercantile Exchange. Natural gas fell 3.9% to $3.21 per 1 million British Thermal Units. United States Oil Fund (USO) was down 0.6%, while the United States Natural Gas Fund (UNG) was 3.5% lower.

Gold futures for June rose 2%, reaching $3,251.10 an ounce on the Comex, while silver futures gained 1.3% to $32.78 an ounce. SPDR Gold Shares (GLD) advanced 1.7%, and the iShares Silver Trust (SLV) was 1.1% higher.