The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1.1% and the actively traded Invesco QQQ Trust (QQQ) was 1.6% higher in recent Monday premarket activity after President Trump's softened stance toward China eased fears of an all-out trade conflict.
US stock futures were also higher, with S&P 500 Index futures up 1.1%, Dow Jones Industrial Average futures advancing 0.8%, and Nasdaq futures gaining 1.8% before the start of regular trading.
President of the Federal Reserve Bank of Philadelphia, Anna Paulson, is slated to speak later in the day.
In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was down 1.9%, Ether ETF (EETH) rose 3.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.1%.
Power Play:
Technology
Technology Select Sector SPDR Fund (XLK) rose 2%, the iShares US Technology ETF (IYW) was 1.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 2.7%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) advanced 2.6%, while the iShares Semiconductor ETF (SOXX) increased 3.3%.
Microchip Technology (MCHP) shares were up over 4% in recent premarket activity after the company said the sixth generation of its Switchtec PCIe switches was built using a 3 nm process.
Winners and Losers:
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.3%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was flat, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.9%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) advanced 0.5%.
Stellantis (STLA) shares were up more than 3% pre-bell after Reuters reported the vehicle manufacturer has postponed the launch of its new strategic plan to Q2 2026, allowing recently appointed CEO Antonio Filosa more time to prepare for the company's capital markets day.
Energy
The iShares US Energy ETF (IYE) rose 2%, while the Energy Select Sector SPDR Fund (XLE) was up by 0.9%.
Ur-Energy (URG) stock was up more than 4% before Monday's opening bell after the company said that its president, Matthew D. Gili, will take over as CEO from Dec. 13 and join its board of directors.
Health Care
The Health Care Select Sector SPDR Fund (XLV) retreated 0.02%. The Vanguard Health Care Index Fund (VHT) gained 0.1% while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1.2% higher.
BeOne Medicines (ONC) stock was up more than 1% premarket after the company said that the US Food and Drug Administration has granted breakthrough therapy designation for sonrotoclax, its investigational therapy for the treatment of adult patients with relapsed or refractory mantle cell lymphoma.
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2.2% lower.
Blackstone (BX) shares were up nearly 2% pre-bell after the company reached an agreement to sell its UK logistics assets to Tritax Big Box for 1.04 billion British pounds ($1.39 billion) in cash and stock. The company also said it is considering a potential cash offer for the UK's Big Yellow Group.
Industrial
Industrial Select Sector SPDR Fund (XLI) advanced 0.6%, the Vanguard Industrials Index Fund (VIS) gained 0.8%, while the iShares US Industrials ETF (IYJ) was inactive.
Caterpillar (CAT) stock was up more than 2% before the opening bell after the company said Sunday it agreed to acquire Australia-based mining software company RPMGlobal Holdings for an equity value of 1.12 billion Australian dollars ($724 million).
Commodities
Front-month US West Texas Intermediate crude oil gained 1.5% to reach $59.76 per barrel on the New York Mercantile Exchange. Natural gas declined by 0.6% to $3.09 per 1 million British Thermal Units. The United States Oil Fund (USO) was 1.4% higher, while the United States Natural Gas Fund (UNG) fell by 2%.
Gold futures for December advanced 2.3% to $4,093.60 an ounce on the Comex, while silver futures rose by 5% to $49.62 an ounce. SPDR Gold Shares (GLD) gained by 1.8%, and the iShares Silver Trust (SLV) was 3% higher.