08:26 AM EDT, 06/18/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Wednesday's premarket activity amid investor caution ahead of the US Federal Reserve's policy announcement and escalating Middle East tensions.

US stock futures were also edging higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.3% before the start of regular trading.

US mortgage applications fell 2.6% in the week ended June 13 despite lower borrowing costs, as both refinancing and purchase activity eased, Mortgage Bankers Association data showed Wednesday.

The housing starts and permits report for May, and the weekly jobless claims bulletin will be released at 8:30 am ET.

The Atlanta Fed Business Inflation Expectations report for June posts at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.

The weekly EIA natural gas report will be released at 12 pm ET.

The Federal Open Market Committee's meeting announcement is scheduled for 2 pm ET, followed by Fed Chair Jerome Powell's press conference at 2:30 pm ET.

In premarket activity, bitcoin was down by 0.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.1%. The Vanguard Health Care Index Fund ( VHT ) was up 0.1% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) was down 0.3%.

Scholar Rock ( SRRK ) stock was up more than 13% premarket after the company said a phase 2 trial showed that apitegromab combined with tirzepatide achieved a 54.9% preservation of lean mass compared with tirzepatide alone, leading to higher quality weight loss.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) retreated marginally by 0.02%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 0.1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.2% higher.

UBS Group's ( UBS ) shares were down more than 2% pre-bell Wednesday after multiple media reports said the company confirmed that its data was stolen in a cyber attack on one of its suppliers.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) retreated 0.2% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Embraer ( ERJ ) stock was up 1.8% before the opening bell after SkyWest ( SKYW ) said it signed a deal to buy and operate 16 new Embraer E175 aircraft under a multiyear contract for Delta Air Lines ( DAL ) . SkyWest ( SKYW ) shares were inactive, while Delta Air stock was flat pre-bell.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was flat, 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 ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

Alibaba's ( BABA ) shares were down more than 1% pre-bell after preliminary findings by the European Commission showed that its e-commerce service, AliExpress, was found in breach of properly assessing and mitigating risks associated with the spread of illegal products under the EU's Digital Services Act.

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.2%, and the iShares US Technology ETF ( IYW ) was flat, while the iShares Expanded Tech Sector ETF ( IGM ) was up 1.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was 0.7% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.6%.

Array Technologies ( ARRY ) shares were up more than 1% in recent Wednesday premarket activity after the company said that it agreed to acquire APA Solar in a deal that values APA at roughly $179 million.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.3%.

Northern Oil and Gas ( NOG ) stock was up more than 1% before Wednesday's opening bell after the company said Tuesday that it has closed the reopening of its 3.625% convertible unsecured senior notes due April 2029, improving its liquidity and debt maturity schedule.

Commodities

Front-month US West Texas Intermediate crude oil gained by 0.4% to reach $75.11 per barrel on the New York Mercantile Exchange. Natural gas was up 0.9% at $3.89 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 0.1% higher, while the United States Natural Gas Fund ( UNG ) increased by 0.9%.

Gold futures for August retreated 0.1% to $3,404.50 an ounce on the Comex, while silver futures advanced by 0.3% to $37.25 an ounce. SPDR Gold Shares ( GLD ) was down marginally by 0.02%, and the iShares Silver Trust ( SLV ) rose by 0.3%.