08:05 AM EST, 02/05/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.8% in Wednesday's premarket activity amid disappointing earnings reports from major technology companies.

US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures slipping 0.04%, and Nasdaq futures retreating 0.8% before the start of regular trading.

US mortgage applications rose 2.2% in the week ended Jan. 31 as the average 30-year fixed mortgage rate fell below 7% for the first time in six weeks, Mortgage Bankers Association data showed Wednesday.

The January ADP private-sector employment report will be released at 8:15 am ET.

The international trade in goods and services bulletin for December posts at 8:30 am ET, followed by the S&P Global PMI composite final for January at 9:45 am ET, and then the ISM services index for January at 10 am ET.

The weekly EIA domestic petroleum status report posts at 10:30 am ET.

Richmond Federal Reserve President Thomas Barkin speaks at 9 am ET, Chicago Federal Reserve President Austan Goolsbee at 2:30 pm ET, Governor Michelle Bowman at 3 pm ET, and Vice Chair Philip Jefferson at 7:30 pm ET.

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

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.5%, and the iShares US Technology ETF ( IYW ) slipped 0.4%, while the iShares Expanded Tech Sector ETF ( IGM ) was down 0.8%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) fell 1.1%, while the iShares Semiconductor ETF (SOXX) declined by 0.4%.

Advanced Micro Devices ( AMD ) shares were down more than 9% in recent Wednesday premarket activity after the chipmaker forecast a sequential decline in Q1 revenue, while the company's weaker-than-expected artificial intelligence figures overshadowed top- and bottom-line beats in the prior period.

Winners and Losers:

Financial

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

Banco Santander (SAN) shares were up 7.6% pre-bell Wednesday after the company reported higher Q4 earnings that exceeded analyst estimates.

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) advanced 0.3%. The Vanguard Health Care Index Fund ( VHT ) was up 0.2%, while the iShares US Healthcare ETF ( IYH ) and the iShares Biotechnology ETF (IBB) were inactive.

Novo Nordisk ( NVO ) stock was up 3.2% premarket after the company reported higher Q4 earnings and sales that beat FactSet analyst estimates.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.1%, while the Vanguard Consumer Staples Fund (VDC) was inactive. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.7%. The VanEck Retail ETF ( RTH ) and the SPDR S&P Retail ETF ( XRT ) were inactive.

Toyota Motor ( TM ) shares were up 3% pre-bell after the company raised its operating profit and revenue guidance for fiscal 2025.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) advanced 0.1% while the Vanguard Industrials Index Fund ( VIS ) and the iShares US Industrials ETF ( IYJ ) were inactive.

Timken (TKR) stock was down 1.8% before the opening bell after the company reported lower Q4 adjusted earnings and net sales.

Energy

The iShares US Energy ETF ( IYE ) was inactive, while the Energy Select Sector SPDR Fund ( XLE ) was up by 0.1%.

TotalEnergies (TTE) stock was up 1.6% before Wednesday's opening bell after the company reported higher-than-expected Q4 adjusted earnings and revenue.

Commodities

Front-month US West Texas Intermediate crude oil fell 1% to $71.97 per barrel on the New York Mercantile Exchange. Natural gas was down 1.6% at $3.20 per 1 million British Thermal Units. United States Oil Fund ( USO ) declined by 1%, while the United States Natural Gas Fund ( UNG ) slipped by 0.8%.

Gold futures for April gained 0.6% to reach $2,892.20 an ounce on the Comex, while silver futures slipped 0.3% to $32.94 an ounce. SPDR Gold Shares ( GLD ) were up 0.8%, and the iShares Silver Trust ( SLV ) was 0.8% higher.