08:06 AM EST, 11/27/2024 (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 a slew of crucial inflation data releasing later in the day.

US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures advancing 0.04%, and Nasdaq futures losing 0.3% before the start of regular trading.

US mortgage applications climbed 6.3% in the week ended Nov. 22, driven by a 12% surge in home purchase applications as mortgage rates fell for the first time in over two months, despite a 3% dip in refinancing activity, the Mortgage Bankers Association reported Wednesday.

The revised Q3 GDP will be released at 8:30 am ET, along with the October durable goods orders bulletin, the October international trade in goods report, the weekly jobless claims bulletin, and the Q3 corporate profits report.

In addition, the retail inventories and wholesale inventories for October also releases at 8:30 am ET.

The October personal consumption expenditures core price index, also known as the PCE core, will be released at 10 am ET.

The October pending home sales index also posts at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.

The November Atlanta Fed Survey of Business Uncertainty report posts at 11 am ET, and the weekly EIA natural gas report at 12 pm ET.

The weekly Baker Hughes domestic oil-and-gas rig count follows at 1 pm ET.

In premarket action, bitcoin was up 2.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.5% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.3%, and the iShares US Technology ETF ( IYW ) was 0.3% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.03%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.5%.

Ambarella ( AMBA ) shares were up more than 21% in recent Wednesday premarket activity after the company's Q3 swung to non-GAAP net income and reported higher revenue.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.01%, 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 0.02%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was flat.

Hesai Group ( HSAI ) shares were up more than 12% pre-bell after Reuters reported, citing an interview with the company's Chief Executive David Li, that Hesai ( HSAI ) plans to halve the price of its main lidar product next year to boost its appeal and expand its use in electric vehicle.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.4% lower.

Iris Energy ( IREN ) shares were up more than 7% pre-bell Wednesday after the company reported higher fiscal Q1 revenue late Tuesday.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.03%. The Vanguard Health Care Index Fund ( VHT ) and the iShares US Healthcare ETF ( IYH ) were inactive. The iShares Biotechnology ETF (IBB) was flat.

BeiGene ( BGNE ) stock was up more than 5% premarket after the company said that the European Commission approved TEVIMBRA in combination with chemotherapy for the first-line treatment of esophageal squamous cell carcinoma and gastric or gastroesophageal junction adenocarcinoma.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.04% while the Vanguard Industrials Index Fund ( VIS ) rose 2.7% and the iShares US Industrials ETF ( IYJ ) was inactive.

Hafnia ( HAFN ) stock was up more than 2% before the opening bell after the company reported higher Q3 earnings and revenue.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.2%.

Equinor ( EQNR ) stock was up 1.6% before Wednesday's opening bell after Berenberg upgraded the company to buy from hold and raised its price target to NOK325 from NOK290.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.4% to $69.04 per barrel on the New York Mercantile Exchange. Natural gas fell 4.7% to $3.30 per 1 million British Thermal Units. United States Oil Fund ( USO ) gained 0.7%, while the United States Natural Gas Fund ( UNG ) fell 5.1%.

Gold futures for February were up 1.2% at $2,678.10 an ounce on the Comex, while silver futures gained 0.5% to $30.98 an ounce. SPDR Gold Shares ( GLD ) advanced 0.8%, while the iShares Silver Trust ( SLV ) was 0.04% lower.