08:35 AM EDT, 06/04/2025 (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, ahead of key economic data releases.

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

US mortgage applications fell 3.9% in the week ended May 30 as both refinancing and purchase activity declined despite slightly lower mortgage rates, Mortgage Bankers Association data showed Wednesday.

ADP's monthly measure of private payrolls showed a 37,000 increase in May, well below expectations compiled by Bloomberg as of 7:30 am ET for an increase of 114,000 and follows a downwardly revised 60,000 jobs increase in April.

The S&P Global US Composite PMI for May will be released at 9:45 am.

The ISM Services Index will be released at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.

The Federal Reserve's Beige Book, a compendium of business and economics reports from the 12 regional Fed branches, posts at 2 pm ET.

Atlanta Fed President Raphael Bostic is slated to speak on Wednesday.

In premarket activity, bitcoin was down 0.6% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower.

Power Play:

Health Care

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

Sagimet Biosciences ( SGMT ) stock was up more than 20% premarket after the company said that denifanstat met all primary and secondary endpoints in a phase 3 clinical trial to treat moderate to severe acne vulgaris.

Winners and Losers:

Technology

Technology Select Sector SPDR Fund (XLK) gained 0.1%, and the iShares US Technology ETF ( IYW ) was 0.2% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was down 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) advanced 0.7%, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.

Sprinklr ( CXM ) shares were up more than 5% in recent premarket activity after the company reported higher fiscal Q1 non-GAAP earnings and revenue.

Industrial

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

Chart Industries ( GTLS ) shares were 3% higher, and Flowserve ( FLS ) stock was up more than 1% before the opening bell after the companies said they plan to merge in an all-stock deal valued at about $19 billion.

Consumer

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

Autoliv ( ALV ) shares were up more than 2% pre-bell after the company reiterated its 2025 guidance for organic sales growth of about 2% and a long-term target of 4% to 6% on average over more than 10 years.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.7% lower.

Wells Fargo ( WFC ) shares were up more than 2% pre-bell Wednesday after the lender said Tuesday that the Federal Reserve System has lifted the restrictions on growth in its total assets, which were imposed in a 2018 consent order.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.4%.

Kosmos Energy ( KOS ) stock was up 1.7% before Wednesday's opening bell after the company and several others entered into a memorandum of understanding to extend the West Cape Three Points and Deep Water Tano licenses to 2040.

Commodities

Front-month US West Texas Intermediate crude oil slipped 0.03% to $63.39 per barrel on the New York Mercantile Exchange. Natural gas gained 0.03% to reach $3.72 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 0.2% higher, while the United States Natural Gas Fund ( UNG ) was down 0.2%.

Gold futures for August were down 0.1% at $3,372.90 an ounce on the Comex, while silver futures retreated 0.3% to $34.53 an ounce. SPDR Gold Shares ( GLD ) was 0.1% lower, and the iShares Silver Trust ( SLV ) fell 0.6%.