08:13 AM EST, 01/15/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Wednesday's premarket activity as investors turn their focus to the upcoming consumer price index report and big bank earnings.

US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.4% before the start of regular trading.

US mortgage applications rose 33.3% in the week ended Jan. 10, driven by a 44% increase in refinancing and a 27% rise in new purchase applications, despite higher mortgage rates, MBA data showed Wednesday.

December's CPI bulletin and the Empire State Manufacturing Index will be released at 8:30 am ET.

The weekly EIA petroleum status report posts at 10:30 am ET.

Minneapolis Fed President Neel Kashkari is slated to speak at 10 am ET, while New York Fed President John Williams and Chicago Fed President Austan Goolsbee will speak separately at 11 am ET.

The Federal Reserve Beige Book, a compendium of economic and business reports from the 12 regional banks, will be released at 2 pm ET.

In premarket activity, bitcoin was up by 1.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher.

Power Play:

Health Care

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

Keros Therapeutics ( KROS ) stock was down more than 16% premarket after the company said it paused dosing in its phase 2 TROPOS trial of cibotercept for pulmonary arterial hypertension after safety reviews indicated new pericardial effusion events.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.1%, 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 0.3%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) slipped 0.01%.

Miniso ( MNSO ) shares were down 3% pre-bell, reversing the 2.4% gains from Tuesday's close. The retail company said it had opened a flagship store in Bangkok, Thailand.

Energy

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

Amplify Energy ( AMPY ) stock was up 2.8% before Wednesday's opening bell after the company said it agreed to combine with Juniper Capital's portfolio companies and issue 26.7 million shares.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.9%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 2.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 2.4% lower.

Goldman Sachs ( GS ) shares were up 2% pre-bell Wednesday after the company reported higher Q4 earnings and revenue.

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.4%, and the iShares US Technology ETF ( IYW ) was 0.4% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was up 0.2%, while the iShares Semiconductor ETF (SOXX) was 0.1% higher.

Nokia ( NOK ) shares were up nearly 2% in recent Wednesday premarket activity after the company said that it signed a multiyear patent license agreement for the use of its video technologies in Samsung's televisions in exchange for royalty payments.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.1%, the Vanguard Industrials Index Fund ( VIS ) gained 0.1% and the iShares US Industrials ETF ( IYJ ) rose 5.2%.

GXO Logistics ( GXO ) stock was up 1.4% before the opening bell after the company said it had been retained by The Perfume Shop, a UK fragrance retailer, to provide weekly deliveries to stores through its shared transport network.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.5% to $77.87 per barrel on the New York Mercantile Exchange. Natural gas was down 0.5% at $3.95 per 1 million British Thermal Units. United States Oil Fund ( USO ) was down 0.01%, while the United States Natural Gas Fund ( UNG ) was 1.7% lower.

Gold futures for February advanced nearly 1% to $2,707.40 an ounce on the Comex, while silver futures gained 1.1% to $30.69 an ounce. SPDR Gold Shares ( GLD ) increased 0.3%, while the iShares Silver Trust ( SLV ) was 0.3% higher.