May 19, 2024
Funds

Exchange-Traded Funds Higher, Equity Futures Lower Pre-Bell Monday Ahead of Data-Packed Week — TradingView News


The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.04% and the actively traded Invesco QQQ Trust (QQQ) saw a 0.1% increase in Monday’s premarket activity ahead of a week packed with economic data releases.

US stock futures were down, with S&P 500 Index futures losing 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.03% before the start of regular trading.

The new home sales bulletin for January will be released at 10:00 am ET, followed by the Dallas Fed Manufacturing Survey for February at 10:30 am ET. Kansas City Fed President Jeffrey Schmid speaks at 7:40 pm ET.

In premarket action, bitcoin was down 1.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% lower.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) was down by 0.2%, and the iShares US Technology ETF (IYW) was 0.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) lost 1.6%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.

Freight Technologies FRGT was up more than 29% in recent Monday premarket activity after the company said it secured contract routes worth more than $5 million for logistics services for Envases Universales.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down by 0.1%, while the Vanguard Consumer Staples Fund (VDC) was 0.4% lower. The iShares US Consumer Staples ETF (IYK) was flat, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was up by 0.5%, while the SPDR S&P Retail ETF (XRT) advanced by 0.5%.

Li Auto 2015 shares rose by nearly y12% in premarket activity after the company reported Q4 adjusted earnings of 4.23 renminbi ($0.59) per diluted American depositary share, up from 0.93 renminbi per ADS a year earlier.

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.1%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) was up 0.6%. The iShares Biotechnology ETF (IBB) slipped 0.1%.

Teva Pharmaceutical Industries TEVA was up 5% premarket Monday after the company’s Singapore subsidiary said it signed a partnership with Jiangsu Nhwa Pharmaceutical to market and distribute Teva’s Austedo for neurodegenerative and movement disorders like Huntington’s disease and Tardive dyskinesia in adults in China.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down by 0.4%.

MoneyHero MNY said late Friday that Rohith Murthy had been as chief executive officer. Shares of the company were down 1.6% in recent premarket trading

Industrial

Industrial Select Sector SPDR Fund (XLI) was up 0.1% and the Vanguard Industrials Index Fund (VIS) slipped 0.04%, while the iShares US Industrials ETF (IYJ) was inactive.

Elbit Systems ESLT gained more than 2% before the opening bell after the company said it won a roughly $600 million contract to provide advanced protection, fighting capabilities and sensor systems for the Australian Army’s Redback Infantry Fighting Vehicles.

Energy

The iShares US Energy ETF (IYE) was 0.9% lower, while the Energy Select Sector SPDR Fund (XLE) was down by 0.3%.

Enlight Renewable Energy ENLT was down 2.3% before Monday’s opening bell after the company guided for lower-than-expected 2024 revenue.

Commodities

Front-month US West Texas Intermediate crude oil fell 0.6% to $76.05 per barrel on the New York Mercantile Exchange. Natural gas rose 4.4% at $1.67 per 1 million British Thermal Units. United States Oil Fund (USO) was down 0.5%, while the United States Natural Gas Fund (UNG) was 6% higher.

Gold futures for April retreated 0.3% to $2,042.40 an ounce on the Comex, and silver futures were down by 1.7% to $22.81 an ounce. SPDR Gold Shares (GLD) were 0.2% lower, and iShares Silver Trust (SLV) fell 1.6%.



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