08:40 AM EDT, 07/02/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) edged 0.03% higher and the actively traded Invesco QQQ Trust (QQQ) was down 0.1% in Wednesday's premarket activity as investors remain cautious ahead of the looming July 9 tariff deadline.

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

US mortgage applications rose 2.7% in the week ended June 27 as lower rates drove a 7% increase in refinancing and a slight gain in purchase activity, Mortgage Bankers Association data showed Wednesday.

ADP's monthly measure of private payrolls showed a 33,000 decrease in June, compared with expectations compiled by Bloomberg for an increase of 98,000 jobs.

The weekly EIA petroleum status report will be released at 10:30 am ET.

In premarket activity, bitcoin was up by 2.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.2% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.2%, and the iShares US Technology ETF ( IYW ) was 0.4% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.9%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.3%.

Verint Systems ( VRNT ) shares were up nearly 8% in recent premarket activity after Bloomberg News reported the company is in discussions to be acquired by private-equity firm Thoma Bravo.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) slipped marginally by 0.01%. The Vanguard Health Care Index Fund ( VHT ) was down 0.1% while the iShares US Healthcare ETF ( IYH ) and the iShares Biotechnology ETF (IBB) were inactive.

ArriVent BioPharma ( AVBP ) stock was down 5% premarket after the company said late Tuesday it priced a $75 million offering, issuing about 2.5 million shares at $19.50 apiece and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to roughly 1.4 million shares.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 1.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.4% lower.

Hut 8 ( HUT ) shares were up 4.7% pre-bell after the company said Wednesday that its four natural gas-fired power plants in Ontario received five-year capacity contracts from the Ontario Independent Electricity System Operator.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.9%.

Borr Drilling ( BORR ) stock was up more than 3% before Wednesday's opening bell after the company said it has secured new contract commitments for four of its premium jack-up rigs, with a total estimated contract revenue of more than $129 million.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.2%, the Vanguard Industrials Index Fund ( VIS ) gained 0.4%, while the iShares US Industrials ETF ( IYJ ) was inactive.

Redwire ( RDW ) stock was up more than 2% before the opening bell after the company said it has completed the first deployment test for one of its Roll-Out Solar Arrays for the lunar Gateway's Power and Propulsion Element.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) gained 0.4%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) retreated 0.2%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was 0.5% higher.

Alibaba Group Holding ( BABA ) shares were down 1.7% pre-bell. The company's Taobao online shopping platform said it is offering 50 billion Chinese renminbi ($6.98 billion) of subsidies over the next 12 months to help consumers and merchants.

Commodities

Front-month US West Texas Intermediate crude oil gained 1.3% to reach $66.31 per barrel on the New York Mercantile Exchange. Natural gas declined 0.4% to $3.40 per 1 million British Thermal Units. United States Oil Fund ( USO ) was 1% higher, while the United States Natural Gas Fund ( UNG ) declined by 0.2%.

Gold futures for August advanced 0.1% to $3,352 an ounce on the Comex, while silver futures were up 0.3% at $36.49 an ounce. SPDR Gold Shares ( GLD ) gained 0.1%, and the iShares Silver Trust ( SLV ) was 0.6% higher.