FINWIRES · TerminalLIVE
FINWIRES

Exchange-Traded Funds Down, Equity Futures Mixed Pre-Bell Monday Amid Hormuz Uncertainty, Corporate Earnings

By

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.2% lower in Monday's premarket activity amid uncertainty surrounding the Strait of Hormuz reopening and corporate earnings for the prior quarter.

US stock futures were mixed, with the S&P 500 Index futures down by 0.01%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.

The Dallas Federal Reserve manufacturing survey for April will be released at 10:30 am ET.

In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) retreated 0.02%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02%.

Power Play:

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) declined by 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) slipped 1.1%. The iShares Biotechnology ETF (IBB) was flat.

Organon (OGN) stock was up more than 16% premarket after the company agreed to be acquired by Sun Pharmaceutical Industries for $14 per share in an all-cash deal with an enterprise valuation of $11.75 billion.

Winners and Losers:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.2%. The iShares US Consumer Staples ETF (IYK) declined by 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% lower.

Domino's Pizza (DPZ) shares were down more than 4% pre-bell after the company reported lower-than-expected fiscal Q1 earnings and revenue.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.2%, the iShares US Technology ETF (IYW) was 0.4% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained by 0.6%, while the iShares Semiconductor ETF (SOXX) rose by 0.5%.

Tower Semiconductor (TSEM) shares were up more than 4% in Monday's premarket activity after the company and Axiro Semiconductor said that Axiro's Ku- and X-band radar beamforming integrated circuits are now ready for deployment in critical defense systems.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.02%, while the Vanguard Industrials Index Fund (VIS) gained 0.4% and the iShares US Industrials ETF (IYJ) was flat.

Joby Aviation (JOBY) stock was up more than 3% before the opening bell after the company said it completed the first point-to-point electric vertical takeoff and landing passenger flights in New York.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% higher.

HBT Financial (HBT) shares were up more than 1% pre-bell after the company reported higher Q1 adjusted earnings and operating revenue.

Energy

The iShares US Energy ETF (IYE) gained 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.

TotalEnergies (TTE) stock was up more than 1% before the opening bell after news reports that the company is running its Gonfreville, France, site at its full capacity to maintain the supply of oil to the domestic market.

Commodities

Front-month US West Texas Intermediate crude oil advanced by 0.7% to $95.07 per barrel on the New York Mercantile Exchange. Natural gas gained by 1% to reach $2.67 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.9%, while the United States Natural Gas Fund (UNG) was 3.7% higher.

Gold futures for May were down by 0.4% at $4,720.60 an ounce on the Comex. Silver futures retreated by 0.8% to $76.36 an ounce. SPDR Gold Shares (GLD) was 0.3% lower, and the iShares Silver Trust (SLV) fell by 0.4%.

Related Articles

Commodities

US Natural Gas Falls for 7th Straight Week on Inventory Builds, Milder Weather Outlook

US natural gas futures posted another weekly decline amid soaring inventories, steady production, and milder weather forecasts.The front-month contract price fell over the week to $2.52 per million British thermal units, from $2.68/MMBtu on April 17.US natural gas prices have continued a downward trend into a seventh straight week, with the last weekly gain seen on March 6.The week began on a bullish note. Prices surged on Monday, supported by a dip in output and fresh uncertainties surrounding the US peace deal with Iran as the ceasefire nears an end.However, prices witnessed a sharp pullback over the rest of the week, as forecasts of high injections into inventory, along with mild weather conditions, took a toll on the market.For the week ended April 22, the May 2026 Nymex contract was down $0.11 at $2.61/MMBtu, compared with $2.72/MMBtu the prior week, the Energy Information Administration's Weekly Gas Storage Supplement said.Natural gas spot prices rose by $0.01/MMBtu to $2.76/MMBtu during the week ended April 22, according to the EIA, from $2.75 per MMBtu last week.This was attributed to a 4%, or 2.3 billion cubic feet per day, increase in total US domestic natural gas demand, compared to the prior week, along with a 10% rise in residential and commercial consumption.The Henry Hub price remained the highest recorded across all major pricing hubs in the US, on Wednesday, the EIA reported.Temperatures across the country were largely normal, ranging from 40 degrees Fahrenheit to 80 degrees Fahrenheit during the week.The EIA posted a net injection of 103 Bcf into storage for the week ended April 17, up from a net injection of 59 Bcf the previous week, bringing total gas inventories to 2,063 Bcf.During the same week last year, the EIA reported a net injection of 77 Bcf, while the five-year average for this period was an injection of 64 Bcf. This week's figures were also above the 96 Bcf forecast, according to data compiled by Investing.com.Total gas inventories at 1,970 Bcf are now 142 Bcf, or 7%, above the corresponding period a year ago, and 137 Bcf, or 7%, higher than the five-year average for this period.All regions reported a net injection in working gas during the week ended Apr. 17, with South Central seeing the highest at 40 Bcf, with its total inventories now at 879 Bcf. The Midwest and East regions reported 33 Bcf and 26 Bcf, respectively.Pinebrook Energy Advisors noted that the week's injection was the "largest on record for this early in the season," while attributing it to significantly lower weather-related demand during the period.While weather conditions continued to remain mild throughout the past few weeks, forecasts have turned bullish recently, with nearly half of the country, in the Eastern, Central and Northern regions, expected to see below-normal temperatures from May 1-7, according to the National Weather Service.A total of 35 liquefied natural gas-carrying vessels left US ports during the week, the same as the previous week, with a total capacity of 134 Bcf, up by 1 Bcf compared to the prior week.In international markets, European TTF gas prices averaged $14.27/MMBtu for the week ended April 22, $0.96/MMBtu lower than the previous week.The Japan-Korea Marker averaged $15.66/MMBtu, about $3.72/MMBtu lower than the prior week.Meanwhile, the US gas rig count increased by four from 125 the previous week to 129, in the week ending April 24, according to data from Baker Hughes (BKR) released Friday. The US had 107 gas rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, rose by one to 674 from 673 the previous week.

$BKR
Commodities

US Oil Update: Crude Mixed on Renewed Optimism for US-Iran Peace Talks

Crude futures diverged in after-hours trading on Friday as the US and Iran are expected to hold indirect talks in Pakistan, paving the way for the resumption of energy flows via the Strait of Hormuz.Front-month West Texas Intermediate crude futures fell 1.01% to $94.88 per barrel, while Brent futures were up 0.81% to $105.92/bbl."Spot crude and product prices eased off the early-April highs on a combination of system rerouting and deal optimism," Ole R. Hvalbye, commodities analyst, said, adding that April Gulf output is reduced by 14.5 million b/d of pre-war supply.US special envoy Steve Witkoff and Jared Kushner will reportedly travel to Pakistan on Saturday morning for direct talks with the Iranian delegation, as Tehran sounded a pessimistic tone on the prospects for talks to end the Middle East conflict.Iran's Foreign Minister Abbas Araghchi arrived in Pakistan on Friday, but Tehran has not publicly agreed to meet with Trump's representatives. Araghchi plans to present a new written response to a US proposal for a peace deal while in Pakistan, according to media reports."Embarking on timely tour of Islamabad, Muscat, and Moscow. Purpose of my visits is to closely coordinate with our partners on bilateral matters and consult on regional developments," Araghchi said in a social media post on X.Meanwhile, the US sanctioned a Chinese oil refinery as well as dozens of shipping firms and vessels that transport Iranian oil on Friday, as the Trump administration ramps up economic pressure on Tehran amid the blockade of the Hormuz.The US Treasury Department's Office of Foreign Assets Control said it imposed penalties on Hengli Petrochemical Refinery, one of China's smaller so-called teapot oil refineries that the department called "one of Tehran's most valued customers."OFAC also announced sanctions against about 40 shipping companies and tankers involved in the shadow-fleet transport of Iran's oil.The latest diplomatic developments and sanctions came as the US increased pressure on Iran with its naval blockade to choke off Iranian oil revenues as Washington seeks to get Tehran to agree to talks to end the conflict.Saxo Bank strategists said the disruption in the Hormuz threatens to further delay crude and fuel flows from the Arabian Gulf.MarineTraffic said Hormuz traffic remains constrained, with eight crossings recorded on Apr.23, flat day-over-day and far below typical volumes.While no new attacks have occurred since April 22, risks remain elevated for the 702 vessels still in the Persian Gulf, amid threats of Iranian action, US interdiction and persistent mine hazards, the ship-tracking data firm said.

Commodities

Rolls-Royce Secures Czech SMR Deal, Expands Europe Pipeline

Rolls-Royce advanced its small modular reactor pipeline in Europe after signing a contract with the nuclear electric power generation firm CEZ to support up to 3 gigawatts of nuclear capacity in the Czech Republic, it said Friday.Rolls-Royce SMR signed an Early Works Contract with CEZ to begin development of the country's first SMR, the company said.The company will start site-specific design work at the Temelin location in the South Bohemian region, following geological studies completed in 2025, it said.The contract also covers permitting, licensing preparations and early infrastructure work required ahead of full project development, the company added.Rolls-Royce said the deal positions its SMR unit as the only provider with multiple contractual commitments to deliver reactors across Europe.The company previously secured a contract with Great British Energy Nuclear to design and build the UK's first SMRs, it said.Tufan Erginbilgic, chief executive of Rolls-Royce, said the agreement marks a key milestone that unlocks a major work program to be delivered with strategic partner CEZ Group, according to the company.He added the deal reflects confidence in Rolls-Royce's nuclear capabilities, builds on recent UK momentum and supports its transformation strategy, positioning its SMR business for leadership in Europe and global markets, it said.