08:11 AM EST, 03/05/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.5% in Wednesday's premarket activity as hopes of easing tariff pressure boosts investor confidence.

US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.6% before the start of regular trading.

US mortgage applications rose 20.4% in the week ended Feb. 28 as a sharp drop in rates drove a 37% jump in refinancing and a 9% rise in purchase applications, Mortgage Bankers Association data showed Wednesday.

The ADP employment report for February will be released at 8:15 am ET, followed by the S&P Global PMI composite final for February at 9:45 am ET.

The factory orders bulletin for January and the ISM Services Index for February post at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.

The Federal Reserve releases its Beige Book, a compendium of economic and business reports from the 12 regional branches, at 2 pm ET.

In premarket activity, bitcoin was up by 4.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.5% higher.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.2%. The Vanguard Health Care Index Fund ( VHT ) was up 0.1% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) was 0.4% higher.

Chimerix ( CMRX ) stock was up more than 69% premarket while Jazz Pharmaceuticals ( JAZZ ) shares were flat after the companies said Jazz had agreed to buy Chimerix ( CMRX ) for $8.55 per share in cash, representing a total consideration of about $935 million.

Winners and Losers:

Industrial

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

REV Group ( REVG ) stock was up more than 6% before the opening bell after the company reported forecast-beating fiscal Q1 adjusted net income and sales.

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.7%, and the iShares US Technology ETF ( IYW ) was 0.2% 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) rose by 1.4%.

Himax Technologies ( HIMX ) shares were up 2% in recent Wednesday premarket activity after the company said it signed a memorandum of understanding with Tata Electronics and Powerchip Semiconductor Manufacturing to develop products for India's display and ultra-low power artificial intelligence sensing product and technology sector.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.9%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.2% lower.

Brookfield Wealth Solutions ( BNT ) shares were up 3% pre-bell Wednesday after the company said late Tuesday that it had more than $16 billion in group capital across its regulated insurance subsidiaries and holding companies at the end of last year.

Energy

The iShares US Energy ETF ( IYE ) was advanced 0.02%, while the Energy Select Sector SPDR Fund ( XLE ) retreated 0.3%.

Tenaris ( TS ) stock was up 1.8% before Wednesday's opening bell after the company said late Tuesday it completed a $700 million share buyback program, purchasing 36.9 million shares, or 3.17% of its total share capital.

Consumer

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

Foot Locker ( FL ) shares were up more than 2% pre-bell after the company reported higher fiscal Q4 adjusted earnings, beating FactSet analyst expectations.

Commodities

Front-month US West Texas Intermediate crude oil retreated 1.7% to $67.07 per barrel on the New York Mercantile Exchange. Natural gas fell 1.5% to $4.28 per 1 million British Thermal Units. United States Oil Fund ( USO ) was down 1.7%, while the United States Natural Gas Fund ( UNG ) declined 0.7%.

Gold futures for April gained 0.2% to reach $2,927.70 an ounce on the Comex, while silver futures advanced 1.8% to $32.98 an ounce. SPDR Gold Shares ( GLD ) were down 0.1%, and the iShares Silver Trust ( SLV ) was 1.6% higher.