The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.8% in Monday's premarket activity, buoyed by expectations of Federal Reserve rate cuts sparked by a weak jobs report.

US stock futures were also higher, with S&P 500 Index futures up 0.6%, Dow Jones Industrial Average futures adding 0.5%, and Nasdaq futures gaining 0.8% before the start of regular trading.

The factory orders report for June will be released at 10 am ET.

In premarket action, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% higher, Ether ETF (EETH) gained 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) advanced 1.1%.

Power Play:

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.8% while the Vanguard Industrials Index Fund (VIS) slipped 0.5% and the iShares US Industrials ETF (IYJ) was inactive.

Energizer (ENR) stock was up more than 12% before the opening bell after the company reported higher fiscal Q3 non-GAAP earnings and revenue.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 1.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was up 0.9%, and the iShares Semiconductor ETF (SOXX) rose by almost 1%.

Tower Semiconductor (TSEM) shares were up more than 5% in recent premarket activity after the company reported higher-than-expected Q2 adjusted earnings and revenue.

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.4%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.4% higher.

Bruker (BRKR) stock was down more than 5% premarket after the company reported lower Q2 adjusted earnings and revenue.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.3%, while the Vanguard Consumer Staples Fund (VDC) was down 0.7%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) advanced 0.8%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.

Freshpet (FRPT) shares were up more than 6% pre-bell after the company said it swung to Q2 earnings and net sales increased.

Energy

The iShares US Energy ETF (IYE) added 0.8%, while the Energy Select Sector SPDR Fund (XLE) was down by 0.2%.

Kosmos Energy (KOS) stock was down 3% before Monday's opening bell after the company reported a Q2 adjusted loss and lower revenue.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was nearly 1% lower.

UBS Group (UBS) shares were up more than 2% pre-bell Monday after the company said it agreed to pay $300 million to the US Department of Justice to settle outstanding obligations under a 2017 agreement between Credit Suisse and the regulator for its legacy residential mortgage-backed securities business. Separately, Bloomberg reported that UBS is considering a synthetic risk transfer deal involving about 2 billion Swiss francs ($2.47 billion) in loans.

Commodities

Front-month US West Texas Intermediate crude oil was down 2.3% to $65.78 per barrel on the New York Mercantile Exchange. Natural gas retreated 0.4% to $3.07 per 1 million British Thermal Units. United States Oil Fund (USO) was 2.2% lower, while the United States Natural Gas Fund (UNG) declined 2%.

Gold futures for August gained 0.6% at $3,421 an ounce on the Comex, while silver futures were up 1.1% to $37.34 an ounce. SPDR Gold Shares (GLD) advanced by 0.3%, and the iShares Silver Trust (SLV) was 1% higher.