08:49 AM EDT, 10/15/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.6% and the actively traded Invesco QQQ Trust (QQQ) was 0.8% higher in Wednesday's premarket activity amid hopes that Fed Chair Powell's dovish signals could open the door to more interest rate cuts.

US stock futures were mixed, with S&P 500 Index futures up 0.6%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures gaining 0.7% before the start of regular trading.

US mortgage applications fell 1.8% in the week ended Oct. 10 following a larger drop the week before, as borrowing costs held nearly unchanged, Mortgage Bankers Association data showed Wednesday.

The New York Federal Reserve's Empire State manufacturing index rebounded to 10.7 in October from negative 8.7 in September, compared with a smaller expected increase to a reading of negative 1.8 in a survey compiled by Bloomberg as of 7:30 am ET.

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

Federal Reserve Governor Stephen Miran, Atlanta Fed President Raphael Bostic, Fed Governor Christopher Waller, and Kansas City Fed President Jeffrey Schmid are slated to speak on Wednesday.

In premarket activity, bitcoin was down by 0.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% lower, Ether ETF (EETH) was down 0.02%, and Bitcoin & Ether Market Cap Weight ETF (BETH) marginally advanced by 0.01%.

Power Play:

Energy

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

Sable Offshore ( SOC ) stock was down more than 23% before Wednesday's opening bell after a tentative court ruling denied a petition from the company and ruled in favor of the California Coastal Commission.

Winners and Losers:

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 ) gained 0.6%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was 0.4% higher.

Papa John's (PZZA) shares were up more than 11% pre-bell after reports that Apollo Global Management ( APO ) made a $64-per-share offer to take the pizza chain private.

Technology

Technology Select Sector SPDR Fund (XLK) rose 1.2%, and the iShares US Technology ETF ( IYW ) was up 0.7%, while the iShares Expanded Tech Sector ETF ( IGM ) increased by 1.4%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) advanced 1.9%, while the iShares Semiconductor ETF (SOXX) was 2.3% higher.

ASML Holding ( ASML ) shares were up more than 4% in recent premarket activity after the company reported higher fiscal Q3 earnings and net sales.

Industrial

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

Nextracker ( NXT ) stock was up more than 4% before the opening bell, while T1 Energy ( TE ) shares were more than 36% higher after the companies said they had agreed to a deal to use Nextracker's ( NXT ) steel module frame technology for T1 Energy's ( TE ) new 5-gigawatt solar manufacturing facility.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.2%. The Vanguard Health Care Index Fund ( VHT ) gained 0.1%, and the iShares US Healthcare ETF ( IYH ) was up 0.4%. The iShares Biotechnology ETF (IBB) rose 0.5%.

Keros Therapeutics ( KROS ) stock was up nearly 1% premarket after the company said it has entered into share purchase agreements to buy back all shares held by Adar1 Capital Management and Pontifax Venture Capital for $17.75 per share in cash, or a total of about $181 million.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.9%. Direxion Daily Financial Bull 3X Shares ( FAS ) rose 2.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 2.2% lower.

Citizens Financial Group ( CFG ) shares were up more than 3% pre-bell Wednesday after the company reported higher Q3 earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.2% to $58.83 per barrel on the New York Mercantile Exchange. Natural gas fell by 1.3% to $2.99 per 1 million British Thermal Units. The United States Oil Fund ( USO ) was 0.6% higher, while the United States Natural Gas Fund ( UNG ) fell by 1.8%.

Gold futures for December advanced 1.2% to $4,214.50 an ounce on the Comex, while silver futures advanced by 1.8% to $51.52 an ounce. SPDR Gold Shares ( GLD ) gained by 1.4%, and the iShares Silver Trust ( SLV ) was 2.7% higher.