The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.3% in Monday's premarket activity, as tech shares falter in response to proposed immigration policy changes.

US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures retreating 0.4% before the start of regular trading.

The Chicago Fed's National Activity Index improved to negative 0.12 in August from negative 0.28 in July, though it remained in negative territory. The three-month average also ticked higher, with mixed contributions across the 85 indicators tracked.

Federal Reserve officials John Williams, Alberto Musalem, Beth Hammack, and Thomas Barkin are slated to speak Monday.

In premarket action, bitcoin was down by 2.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.3% lower, Ether ETF (EETH) was down 5.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 1.6%.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.6%. The Vanguard Health Care Index Fund (VHT) was up 1.1% while the iShares US Healthcare ETF (IYH) gained 0.6%. The iShares Biotechnology ETF (IBB) was 0.3% higher.

Metsera (MTSR) stock was up more than 60% premarket after Pfizer (PFE) said it has agreed to buy the anti-obesity drug developer for $47.50 per share in cash, valuing the company at about $4.9 billion. Pfizer shares were 1.8% higher premarket.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.4%, and the iShares US Technology ETF (IYW) was 0.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was 0.04% higher, while the iShares Semiconductor ETF (SOXX) declined by 0.2%.

Quantum Computing (QUBT) shares were down more than 12% in recent premarket activity after the company said Sunday it agreed to sell 26.9 million common shares to institutional investors priced at the market for expected gross proceeds of $500 million.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was marginally lower by 0.02%, while the Vanguard Consumer Staples Fund (VDC) was down 0.02%. The iShares US Consumer Staples ETF (IYK) was up 1,5%, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) declined by 0.04%.

Steakholder Foods (STKH) shares were up more than 3% pre-bell after the company said it signed an agreement to acquire Twine Solutions through an equity transaction.

Financial

Financial Select Sector SPDR Fund (XLF) declined by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.2% higher.

Banco Bilbao Vizcaya Argentaria (BBVA) shares were down over 2% pre-bell Monday after the company said that it has raised its offer to acquire Banco Sabadell by 10% to 17 billion euros ($20 billion).

Energy

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

Fluence Energy (FLNC) stock was up more than 1% before Monday's opening bell after the company said that DTEK Group unit DRI selected the company to provide battery storage units for its 133-megawatt Trzebinia project in southern Poland.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.4% while the Vanguard Industrials Index Fund (VIS) gained 0.1% and the iShares US Industrials ETF (IYJ) was 1.7% lower.

Commodities

Front-month US West Texas Intermediate crude oil was down 1% to $61.81 per barrel on the New York Mercantile Exchange. Natural gas fell 0.1% to $3.19 per 1 million British Thermal Units. The United States Oil Fund (USO) was 0.8% lower, while the United States Natural Gas Fund (UNG) declined by 0.4%.

Gold futures for December were up by 1.4% to $3,757.60 an ounce on the Comex, while silver futures gained 2% to $43.83 an ounce. SPDR Gold Shares (GLD) was up 0.9%, and the iShares Silver Trust (SLV) was 1% higher.