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 the ongoing Middle East conflict.

US stock futures were higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures gaining 0.6% before the start of regular trading.

The Empire State Manufacturing Index will be released at 8:30 am ET.

In premarket activity, bitcoin was up by 1.5% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.3%. The Vanguard Health Care Index Fund (VHT) was down 0.1% while the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was inactive.

Incyte (INCY) stock was up more than 9% premarket after the company said Sunday that data from two studies of its monoclonal antibody treatment INCA033989 showed "rapid and durable normalization of platelet counts" in patients with mutant calreticulin-expressing myeloproliferative neoplasms. The company also said it partnered with QIAGEN (QGEN) to develop a next-generation sequencing diagnostic panel to support Incyte's portfolio of investigational therapies for myeloproliferative neoplasms.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.6%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) increased 0.3%.

MGM Resorts International (MGM) shares were up more than 1% pre-bell after the company's joint venture with Entain, BetMGM, said it now expects at least $2.6 billion in 2025 net revenue, up from its previous outlook range of $2.4 billion to $2.5 billion.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.7% and the Vanguard Industrials Index Fund (VIS) rose 1%, while the iShares US Industrials ETF (IYJ) was inactive.

Kratos Defense & Security Solutions (KTOS) stock was up 1.5% before the opening bell after the company said it plans to open a new manufacturing plant in Bristow, Oklahoma, to produce its GEK line of turbojet engines.

Technology

Technology Select Sector SPDR Fund (XLK) gained 0.6%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.8%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) rose 6%, while the iShares Semiconductor ETF (SOXX) increased 1.2%.

Snowflake (SNOW) shares were up more than 1% in recent Monday premarket activity after the company said it would collaborate with Interpublic Group's (IPG) database marketing company, Acxiom, to develop artificial intelligence-powered marketing products for brands and agencies. Interpublic Group's stock was marginally higher.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.7% lower.

Energy

The iShares US Energy ETF (IYE) rose 1%, while the Energy Select Sector SPDR Fund (XLE) was up by 0.1%.

Commodities

Front-month US West Texas Intermediate crude oil retreated by 1.4% to $71.95 per barrel on the New York Mercantile Exchange. Natural gas was up 3.7% at $3.72 per 1 million British Thermal Units. United States Oil Fund (USO) was 1.3% lower, while the United States Natural Gas Fund (UNG) increased 2.8%.

Gold futures for August retreated 0.4% to $3,438.10 an ounce on the Comex, while silver futures advanced marginally by 0.03% to $36.37 an ounce. SPDR Gold Shares (GLD) was 0.6% lower, and the iShares Silver Trust (SLV) retreated by 0.1%.