08:24 AM EST, 11/13/2024 (MT Newswires) -- 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) retreated 0.2% in Wednesday's premarket activity, ahead of the consumer price index report.

US stock futures were also lower, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures losing 0.3% before the start of regular trading.

Mortgage applications rose by 0.5% in the week ended Nov. 8 after a 10.8% decrease in the prior week, according to Mortgage Bankers Association data released Wednesday.

October's consumer price index report will be released at 8:30 am ET.

Dallas Federal Reserve President Lorie Logan speaks at 9:45 am ET, St. Louis Fed President Alberto Musalem at 1 pm ET, and Kansas City President Jeffrey Schmid at 1:30 pm ET.

In premarket activity, bitcoin was down by 2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.1% lower.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) retreated 0,04%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF ( IYK ) was inactive, 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 ) was down by 1.6%.

Rivian Automotive ( RIVN ) shares were up more than 8% in premarket activity Wednesday, a day after the company said that Volkswagen Group will invest up to $5.8 billion into their expanded joint venture.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund ( XLI ) declined by 0.3% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

V2X (VVX) stock was down 4.6% before the opening bell after the company said late Tuesday that a certain selling stockholder priced an underwritten public stock offering at $61 per common share.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.4%, and the iShares US Technology ETF ( IYW ) was down 0.2%, while the iShares Expanded Tech Sector ETF ( IGM ) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 0.9%.

Super Micro Computer ( SMCI ) shares were down nearly 3.2% in recent Wednesday premarket activity after the company said that it could not file its quarterly report for the period ending Sept. 30 on time due to the need for more time to complete financial statements and disclosures.

Energy

The iShares US Energy ETF ( IYE ) was down 0.5%, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.1%.

Suncor Energy ( SU ) stock was up 3% before Wednesday's opening bell after the company reported forecast-beating Q3 adjusted operating earnings and revenue.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.01%. The Vanguard Health Care Index Fund ( VHT ) was up 0.2% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) was 0.1% higher.

Amgen ( AMGN ) stock was up 1.7% premarket after the company said it had found no connection between its potential once-monthly weight-loss injection MariTide and bone density loss.

Financial

Financial Select Sector SPDR Fund (XLF) was down 0.2%. Direxion Daily Financial Bull 3X Shares ( FAS ) declined by 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.7% higher.

Hut 8 ( HUT ) shares were up 1% pre-bell Wednesday after the company swung to Q3 earnings and reported higher revenue.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.2% to reach $68.23 per barrel on the New York Mercantile Exchange. Natural gas declined by 1.3% to $2.87 per 1 million British Thermal Units. United States Oil Fund ( USO ) advanced 0.3%, while the United States Natural Gas Fund ( UNG ) was down by 1.9%.

Gold futures for December were up 0.4% at $2,617.50 an ounce on the Comex, while silver futures advanced 0.9% to $31.04 an ounce. SPDR Gold Shares ( GLD ) increased by 0.4%, and iShares Silver Trust ( SLV ) was 0.5% higher.