09:31 AM EDT, 10/16/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up by 0.02% while the actively traded Invesco QQQ Trust (QQQ) was 0.04% higher in Wednesday's premarket activity, as major US banks' earnings continue to gather investors' confidence.

US stock futures were also higher, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures advancing 0.03%, and Nasdaq futures higher by 0.05% before the start of regular trading.

Mortgage applications fell by 17% in the week ended Oct. 11 as mortgage rates rose for a third straight week to their highest level since August, according to Mortgage Bankers Association data Wednesday, while this follows a 5.1% decrease in overall activity in the week ended Oct. 4.

US import prices fell by 0.4% in September, while export prices also slipped by 0.7% last month.

In premarket action, bitcoin was up by 3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.5% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund ( XLK ) advanced 0.3%, and the iShares US Technology ETF ( IYW ) was 0.2% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was off 0.03%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) was up 2%, while the iShares Semiconductor ETF ( SOXX ) gained 1.2%.

Versus Systems ( VS ) shares surged 228% in recent Wednesday premarket activity, after saying it secured a $2.5 million funding and a technology licensing deal from Aspis Cyber Technologies.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) was up 0.1%. The Vanguard Health Care Index Fund ( VHT ) was flat while the iShares US Healthcare ETF ( IYH ) was 0.3% higher. The iShares Biotechnology ETF ( IBB ) advanced 0.3%.

NovoCure ( NVCR ) stock rose 21% before Wednesday's bell, after it said overnight that the US Food and Drug Administration has approved its Optune Lua device for the treatment of adults with metastatic non-small cell lung cancer.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.07%, while the Vanguard Consumer Staples Fund (VDC) was 0.06% higher. The iShares US Consumer Staples ETF ( IYK ) was flat, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.1%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) advanced 0.2%.

J.B. Hunt Transport Services (JBHT) stock was 6.7% higher before the bell Wednesday, after reporting overnight better-than-expected Q3 earnings and operating revenue.

Energy

The iShares US Energy ETF ( IYE ) was down 0.06%, while the Energy Select Sector SPDR Fund ( XLE ) was 0.4% higher.

Iris Energy ( IREN ) shares were up 5.3% before the opening bell Wednesday, after it said its AI Cloud Services division is anticipated to report roughly $32 million in annual hardware profit by the end of December.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) was up by 0.3% while the Vanguard Industrials Index Fund ( VIS ) was flat and the iShares US Industrials ETF ( IYJ ) was up 1.3%.

ASML Holding ( ASML ) stock was 2.3% lower in recent Wednesday premarket activity, after saying overnight it expected 2025 total net sales of 30 billion euros ($32.67 billion) to 35 billion euros, which is the "lower half of the range" the company guided at its 2022 Investor Day.

Financial

Financial Select Sector SPDR Fund ( XLF ) advanced 0.2%. Direxion Daily Financial Bull 3X Shares ( FAS ) gained 0.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.4% lower.

Citizens Financial Group ( CFG ) shares fell 2.2% in pre-bell Wednesday after it reported lower Q3 underlying earnings and total revenue from a year earlier.

Commodities

Front-month US West Texas Intermediate crude oil gained 0.04% to $70.61 per barrel on the New York Mercantile Exchange. Natural gas was down 2.6% at $2.432 per 1 million British Thermal Units. United States Oil Fund ( USO ) declined 0.4%, while the United States Natural Gas Fund ( UNG ) was 2.1% lower.

Gold futures for December were up 0.7% to $2,698.80 an ounce on the Comex, while silver futures gained 1.1% to $32.09 an ounce. SPDR Gold Shares ( GLD ) were up 0.6%, and iShares Silver Trust ( SLV ) was 1.1% higher.