08:40 AM EDT, 08/20/2025 (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) was 0.2% lower in Wednesday's premarket activity as investors await the Federal Reserve's meeting minutes.

US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.3% before the start of regular trading.

US mortgage applications declined 1.4% in the week ended Aug. 15 as refinancing fell 3% and purchase activity was relatively flat, with rates holding steady, Mortgage Bankers Association data showed Wednesday.

The Atlanta Fed Business Inflation Expectations report for August will be released at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.

Minutes from the Federal Reserve's July 29-30 policy meeting will be released at 2 pm ET.

Federal Reserve Governor Christopher Waller and Atlanta Fed President Raphael Bostic are slated to speak on Wednesday.

In premarket activity, bitcoin was up by 0.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% higher, Ether ETF (EETH) rose 1.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) advanced 0.02%.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.2%, while the Vanguard Consumer Staples Fund (VDC) was nearly 0.1% lower. The iShares US Consumer Staples ETF ( IYK ) slipped by 0.04%, 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 ) declined by 0.4%.

La-Z-Boy ( LZB ) shares were down nearly 22% in recent premarket activity after the company reported lower fiscal Q1 adjusted earnings and revenue.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.02%. The Vanguard Health Care Index Fund ( VHT ) and the iShares US Healthcare ETF ( IYH ) were flat,. The iShares Biotechnology ETF (IBB) was down 0.1%.

Alcon ( ALC ) shares were 11% lower in Wednesday's premarket activity after the company reported Q2 sales below market expectations and lowered its fiscal 2025 outlook revenue.

Energy

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

EnCore Energy (EU) stock was down more than 8% before Wednesday's opening bell after the company said that it has set the pricing of $100 million of 5.50% convertible senior notes due 2030 in a private offering to qualified institutional buyers.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) retreated 0.04% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Dycom Industries ( DY ) stock was down more than 9% before the opening bell after the company reported lower-than-expected fiscal Q2 revenue.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.01%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.5% higher.

Futu ( FUTU ) shares were up more than 3% pre-bell Wednesday after the company reported higher Q2 earnings and revenue.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.4%, and the iShares US Technology ETF ( IYW ) was 0.3% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was flat. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was flat, while the iShares Semiconductor ETF (SOXX) declined by 0.3%.

Dayforce ( DAY ) shares were up more than 3% in recent premarket activity after the company said it is in "advanced discussions" with private equity firm Thoma Bravo regarding its potential acquisition of the human capital management software company for $70 per share.

Commodities

Front-month US West Texas Intermediate crude oil was up 1.4% at $63.23 per barrel on the New York Mercantile Exchange. Natural gas retreated 0.7% to $2.75 per 1 million British Thermal Units. United States Oil Fund ( USO ) gained 1.2%, while the United States Natural Gas Fund ( UNG ) fell 1.2%

Gold futures for December gained 0.4% to reach $3,372.40 an ounce on the Comex, while silver futures were down 0.5% at $37.62 an ounce. SPDR Gold Shares ( GLD ) advanced 0.5%, and the iShares Silver Trust ( SLV ) was 0.5% lower.