The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% higher in Monday's premarket activity amid hopes that President Trump's meeting with Democrat leaders will help break the deadlock over federal funding.
US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures gaining 0.4%, and Nasdaq futures gaining 0.6% before the start of regular trading.
The pending home sales index for August will be released at 10 am ET, followed by the Dallas Fed Manufacturing Survey for September at 10:30 am ET.
Federal Reserve officials John Williams, New York president; Alberto Musalem, St. Louis president; and Raphael Bostic, Atlanta president, speak on Monday.
In premarket activity, bitcoin was up by 1.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.9 higher, Ether ETF (EETH) was up 2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.7%.
Power Play:
Health Care
The Health Care Select Sector SPDR Fund (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) gained 0.5%, while the iShares US Healthcare ETF (IYH) rose 1.2%. The iShares Biotechnology ETF (IBB) was 0.9% higher.
Merus (MRUS) stock was up more than 37% premarket, while Genmab (GMAB) shares were more than 3% lower after the companies said Genmab has agreed to acquire the biotechnology firm in an all-cash deal worth about $8 billion.
Winners and Losers:
Financial
Financial Select Sector SPDR Fund (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was inactive.
KKR (KKR)'s shares were up more than 1% pre-bell after the European Commission approved its acquisition of sole control of the UK's Spectris.
Industrial
Industrial Select Sector SPDR Fund (XLI) advanced 0.6%, the Vanguard Industrials Index Fund (VIS) gained 0.7%, while the iShares US Industrials ETF (IYJ) was inactive.
Lockheed Martin's (LMT) stock was up more than 2% before the opening bell after its Sikorsky subsidiary received a five-year, $10.90 billion contract from the US Navy to build up to 99 CH-53K King Stallion helicopters.
Consumer
The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) advanced 0.1%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.5%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 0.3% higher.
Stellantis (STLA) shares were up more than 1% pre-bell after the company said it has appointed Joao Laranjo as chief financial officer, effective immediately.
Energy
The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was down by 0.2%.
Occidental Petroleum (OXY) stock was up nearly 2% before Monday's opening bell after the Financial Times reported Sunday that Occidental is working with advisers to sell its OxyChem unit in a deal likely to be worth at least $10 billion.
Technology
Technology Select Sector SPDR Fund (XLK) advanced 0.6%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) rose 1.3%, while the iShares Semiconductor ETF (SOXX) was nearly 1% higher.
Commodities
Front-month US West Texas Intermediate crude oil fell 2.1% to $64.35 per barrel on the New York Mercantile Exchange. Natural gas was down 2% at $3.14 per 1 million British Thermal Units. The United States Oil Fund (USO) was 1.3% lower, while the United States Natural Gas Fund (UNG) declined by 0.5%.
Gold futures for December were up by 1.2% at $3,854.10 an ounce on the Comex, while silver futures gained 0.7% to reach $46.97 an ounce. SPDR Gold Shares (GLD) advanced 1.3%, and the iShares Silver Trust (SLV) was 1.3% higher.