08:21 AM EDT, 03/13/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was marginally higher in Wednesday's premarket activity, as investors await key economic data due this week.

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

Data released by the Mortgage Bankers Association on Wednesday showed a 7.1% increase in mortgage applications for the week ending March 8, attributed to a decline in 30-year fixed mortgage rates below 7%. Refinancing applications rose by roughly 12% and new purchase applications by 5%.

The Q4 Services Survey will be released at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.

In premarket action, bitcoin was up by 2.7% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.8% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) was up by 0.1%, and the iShares US Technology ETF (IYW) advanced 0.2%, while the iShares Expanded Tech Sector ETF (IGM) was 1.2% higher. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) lost 1.9%, while the iShares Semiconductor ETF (SOXX) gained 0.1%.

Minim (MINM) was up more than 41% in recent Wednesday premarket activity after the company said late Tuesday it struck a deal to merge with privately held e2Companies in an all-stock transaction.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.1%. The Vanguard Health Care Index Fund (VHT) was 0.4% higher while the iShares US Healthcare ETF (IYH) retreated 0.02%. The iShares Biotechnology ETF (IBB) was 0.04% higher.

Tenon Medical ( TNON ) was up 20% premarket Wednesday after the company reported higher Q4 revenue than a year earlier.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down by 0.1%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was 0.5% lower, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.6%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) retreated 0.1%.

Dollar Tree ( DLTR ) was down 9% pre-bell after the company said it plans to close about 600 Family Dollar stores in fiscal H1 2024.

Energy

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

ProFrac Holding ( ACDC ) was down 8.3% before Wednesday's opening bell after the company reported a Q4 loss of $99.1 million, swinging from earnings of $40.9 million a year earlier.

Industrial

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

Zim Integrated Shipping Services ( ZIM ) was down 5% before the opening bell after reporting a Q4 net loss of $1.23 per diluted share, swinging from earnings of $3.44 a year earlier.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.04%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was flat.

Qifu Technology ( QFIN ) was up 1.8% pre-bell Wednesday after the company reported Q4 adjusted earnings late Tuesday of 7.14 renminbi ($1.01) per diluted American depositary share, up from 5.70 renminbi a year earlier.

Commodities

Front-month US West Texas Intermediate crude oil advanced 1.4% to $78.66 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.8% to $1.68 per 1 million British Thermal Units. United States Oil Fund (USO) was up 1.1%, while the United States Natural Gas Fund (UNG) was 2.3% lower.

Gold futures for April advanced 0.1% to $2,168 an ounce on the Comex, and silver futures were up 0.5% at $24.52 an ounce. SPDR Gold Shares (GLD) were 0.3% higher, and iShares Silver Trust (SLV) gained 0.7%.