08:18 AM EST, 02/26/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.7% in Wednesday's premarket activity amid renewed optimism over President Trump's tax-cut agenda and the upcoming Nvidia earnings report.

US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.7% before the start of regular trading.

US mortgage applications fell 1.2% in the week ended Feb. 21 as economic concerns outweighed lower rates, with refinancing down 4% and purchase applications flat, Mortgage Bankers Association data showed Wednesday.

The January new home sales report and weekly EIA petroleum status bulletin are due at 10 am ET, followed by the Atlanta Fed Survey of Business Uncertainty report for January at 11 am ET.

Federal Reserve Richmond President Thomas Barkin speaks at 8:30 am ET, and Atlanta Fed President Raphael Bostic at 12 pm ET.

In premarket activity, bitcoin was up by 0.3% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) advanced 1.1%, and the iShares US Technology ETF ( IYW ) was 0.6% higher, while the iShares Expanded Tech Sector ETF ( IGM ) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) rose 2.8%, while the iShares Semiconductor ETF (SOXX) was up 1.2%.

ZoomInfo Technologies ( ZI ) shares were up more than 20% in recent Wednesday premarket activity after the company reported better-than-expected Q4 adjusted net income and revenue.

Winners and Losers:

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.9% lower.

Lemonade (LMND) shares were down more than 13% pre-bell Wednesday after the company late Tuesday posted downbeat guidance for Q1 and 2025 revenue.

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 ) advanced 0.1%, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) gained 0.7%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was 2% higher.

Anheuser-Busch InBev ( BUD ) shares were up more than 8% pre-bell after the company reported higher Q4 underlying earnings and revenue.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.03%. The Vanguard Health Care Index Fund ( VHT ) and the iShares US Healthcare ETF ( IYH ) were inactive. The iShares Biotechnology ETF (IBB) was flat.

Evotec (EVO) stock was down nearly 1% premarket after the company said that Chief Financial Officer Laetitia Rouxel will step down, effective Feb. 28.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.2% while the Vanguard Industrials Index Fund ( VIS ) was inactive and the iShares US Industrials ETF ( IYJ ) was down 0.7%.

Sterling Infrastructure ( STRL ) stock was up more than 3% before the opening bell after the company reported late Tuesday higher Q4 adjusted earnings and revenue.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.03%.

BKV (BKV) stock was up 1.8% before Wednesday's opening bell after the company said it swung to Q4 adjusted net income.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.3% to $68.75 per barrel on the New York Mercantile Exchange. Natural gas fell 1.2% to $4.13 per 1 million British Thermal Units. United States Oil Fund ( USO ) declined by 0.5% while the United States Natural Gas Fund ( UNG ) was down 0.9%.

Gold futures for April advanced 0.3% at $2,926.90 an ounce on the Comex, while silver futures gained 0.8% to reach $32.39 an ounce. SPDR Gold Shares ( GLD ) were up 0.04%, and the iShares Silver Trust ( SLV ) was 0.3% higher.