08:21 AM EDT, 10/30/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) and the actively traded Invesco QQQ Trust (QQQ) were each 0.1% higher in Wednesday's premarket activity, as investors await October's jobs report to shed some light on potential interest rate cuts.

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

US mortgage applications dropped 0.1% in the week ended Oct. 25 as average 30-year mortgage rates climbed to 6.73%, the highest since July, with refinance applications down 6% and purchase applications up 5%, according to Mortgage Bankers Association data Wednesday.

ADP Employment for October rose 233,000 compared with prior 159,000 increase and expected 111,000 gain. The Q3 gross domestic product (GDP) first estimate from Washington will post at 8:30 am ET.

September's pending home sales index is slated for a 10 am ET release, followed by the weekly EIA petroleum status report at 10:30 am ET. The October Atlanta Fed Survey of Business Uncertainty will be posted at 11 am ET.

In premarket action, bitcoin was down by 0.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 1.3%. The Vanguard Health Care Index Fund ( VHT ) was down 1.1% while the iShares US Healthcare ETF ( IYH ) slipped 0.8%. The iShares Biotechnology ETF (IBB) was inactive.

Eli Lilly ( LLY ) stock was down about 10% premarket after the company reported lower-than-expected Q3 results and cut its 2024 non-GAAP earnings guidance.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.1%, while the Vanguard Consumer Staples Fund (VDC) was 1.3% higher. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.4%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was flat.

Brinker International ( EAT ) shares were up 6% pre-bell after the company reported higher fiscal Q1 results and lifted its guidance for fiscal 2025.

Industrial

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

Caterpillar ( CAT ) stock was down 2.6% before the opening bell after the company reported lower Q3 adjusted earnings and revenue.

Technology

Technology Select Sector SPDR Fund ( XLK ) retreated 0.5%, and the iShares US Technology ETF ( IYW ) was flat, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 2.5%.

Daqo New Energy ( DQ ) shares were up 3.3% in recent Wednesday premarket activity even after the company posted a Q3 adjusted loss and lower revenue.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.2%.

Uranium Royalty ( UROY ) stock was up 1% before Wednesday's opening bell after the company said late Tuesday it had named Ken Robertson as a director of the company.

Financial

Financial Select Sector SPDR Fund (XLF) slipped by 0.1%. Direxion Daily Financial Bull 3X Shares ( FAS ) was flat, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.5% higher.

Bank of America ( BAC ) shares were down 1.7% pre-bell Wednesday after the company said in a Tuesday filing that it is in talks with the Consumer Financial Protection Bureau over a potential resolution or enforcement action on the watchdog's inquiry into the company's electronic payments processing through the Zelle network.

Commodities

Front-month US West Texas Intermediate crude oil rose 1.3% to $68.08 per barrel on the New York Mercantile Exchange. Natural gas declined 0.2% to $2.85 per 1 million British Thermal Units. United States Oil Fund ( USO ) was up 1.2%, while the United States Natural Gas Fund ( UNG ) lost 0.1%.

Gold futures for December advanced 0.4% to $2,793.20 an ounce on the Comex, while silver futures declined 0.4% to $34.30 an ounce. SPDR Gold Shares ( GLD ) gained 0.3%, and iShares Silver Trust ( SLV ) was 1% lower.