The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.9% and the actively traded Invesco QQQ Trust (QQQ) was 1.1% higher in Monday's premarket activity as investors weigh gains in technology shares amid the ongoing Middle East conflict.

US stock futures were also higher, with S&P 500 Index futures up 0.8%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 1% before the start of regular trading.

The Empire State manufacturing index fell to negative 0.2 in March, missing expectations for a reading of 3.9 and down from 7.1 in February.

The industrial production data for February will be released at 9:15 am ET, followed by the National Association of Home Builders' sentiment index for March at 10 am ET.

In premarket activity, bitcoin was up by 2.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.5% higher, Ether ETF (EETH) rose 8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 3.2%.

Power Play:

Energy

The iShares US Energy ETF (IYE) was up 1.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.6%.

Sable Offshore (SOC) stock was up more than 8% before Monday's opening bell after the company said that it resumed transporting hydrocarbons produced at the Santa Ynez unit through the Santa Ynez pipeline system on Saturday, as directed by US Secretary of Energy Chris Wright.

Winners and Losers:

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) and the iShares Biotechnology ETF (IBB) were inactive.

Olema Pharmaceuticals (OLMA) stock was up more than 5% premarket after the company reported a narrower-than-expected Q4 net loss.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) rose by 1.4%, the iShares US Technology ETF (IYW) was 1.2% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 0.7%, while the iShares Semiconductor ETF (SOXX) gained by 2.1%.

Micron Technology (MU) shares were up more than 4% in Monday's premarket activity after the company said Sunday that it has completed the acquisition of Powerchip Semiconductor Manufacturing's P5 semiconductor site in Miaoli County, Taiwan.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.2% higher. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced 0.7%.

Alibaba Group Holding (BABA) shares were up more than 2% pre-bell after Bloomberg reported the retailer is creating a new division to house its artificial intelligence services and development efforts in an attempt to make AI more profitable.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.2% lower.

HSBC (HSBC) shares were up more than 2% pre-bell Monday after Bloomberg News reported Friday that the bank and Standard Chartered are set to become the first licensed stablecoin issuers in Hong Kong.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 1%, while the Vanguard Industrials Index Fund (VIS) gained 0.6% and the iShares US Industrials ETF (IYJ) was inactive.

AECOM (ACM) stock was up nearly 1% before the opening bell after the company said that its joint venture with Parsons and EPC Consultants has been selected by the New York City Department of Environmental Protection to provide construction supervision for the city's first combined sewer overflow storage tunnel and pump station at Newtown Creek.

Commodities

Front-month US West Texas Intermediate crude oil retreated by 1.4% to $97.28 per barrel on the New York Mercantile Exchange. Natural gas declined by 0.9% to $3.10 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 0.5%, while the United States Natural Gas Fund (UNG) was 0.4% lower.

Gold futures for March declined by 1.1% to $5,006.30 an ounce on the Comex. Silver futures were down by 2.7% at $79.20 an ounce. SPDR Gold Shares (GLD) retreated by 0.03%, and the iShares Silver Trust (SLV) was 1.1% lower.