US Markets Climb on Tech Optimism and Lower Oil Prices

US markets saw a positive start to Tuesday, with major exchange-traded funds (ETFs) and stock futures climbing amid lower oil prices and optimism around tech stocks. The SPDR S&P 500 ETF Trust (SPY) rose 0.5%, while the Invesco QQQ Trust (QQQ) gained 0.6% in premarket trading. Futures for the S&P 500, Dow Jones Industrial Average, and Nasdaq also showed gains, up 0.5%, 0.7%, and 0.7% respectively.

The US international trade deficit widened to $105.57 billion in August, surpassing the expected $102.1 billion gap. Meanwhile, cryptocurrencies showed mixed movements, with bitcoin up 0.7%. Among crypto ETFs, the ProShares Bitcoin Strategy ETF (BITO) advanced 1%, Ether ETF (EETH) rose 1.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) remained flat.

In the healthcare sector, the State Street Health Care Select Sector SPDR ETF (XLV) edged up 0.3%, while the iShares Biotechnology ETF (IBB) gained 0.7%. Option Care Health (OPCH) shares surged 21% after McKesson (MCK) and CD&R agreed to acquire the company for approximately $5.80 billion.

Technology ETFs also performed well, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.7% and the iShares US Technology ETF (IYW) rising 0.5%. Xanadu Quantum Technologies (XNDU) shares jumped 7% after announcing a multiyear deal with GlobalFoundries (GFS), which saw a 1.4% increase.