08:17 AM EDT, 05/15/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) edged up 0.04% in Wednesday's premarket activity, ahead of key inflation and retail data releasing later in the day.

US stock futures were barely moving with S&P 500 Index futures up 0.04%, while the Dow Jones Industrial Average futures and Nasdaq futures were flat before the start of regular trading.

Mortgage applications in the US increased slightly by 0.5% in the week ended May 10, driven by higher refinancing activity due to a decrease in mortgage rates, while new purchase applications declined by 2%. Refinancing loan applications saw a 5% rise, with the average interest rate for 30-year fixed mortgages dropping to 7.08%, the lowest level since early April.

The consumer price index, or CPI, for April, retail sales for April and the Empire State Manufacturing Index for May will be released at 8:30 am ET.

The business inventories for March bulletin posts at 10 am ET, along with the NAHB May Housing Market Index.

The weekly EIA petroleum status report posts at 10:30 am. Minneapolis Fed President Neel Kashkari speaks at noon, and Governor Michelle Bowman at 3:20 pm.

In premarket action, bitcoin was up by 1.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) edged 0.01% lower, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) gained 0.01%.

Sportradar Group AG ( SRAD ) shares were up more than 12% premarket after the company reported higher year-over-year Q1 revenue and lifted its 2024 guidance.

Winners and Losers:

Health Care

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

BioAtla ( BCAB ) was up 10% premarket after the company reported a narrowed Q1 net loss compared with a year earlier.

Energy

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

Petrobras (PBR) shares traded down more than 8% before the opening bell after the company said Tuesday that Jean Paul Prattes has offered to step down as the company's chief executive and board member.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.5%, while the Vanguard Consumer Staples Fund (VDC) was 0.3% higher. The iShares US Consumer Staples ETF (IYK), the Consumer Discretionary Select Sector SPDR Fund (XLY) and the VanEck Retail ETF (RTH) were inactive, while the SPDR S&P Retail ETF (XRT) advanced 0.2%

Boot Barn Holdings ( BOOT ) shares fell 6.5% pre-bell after the company reported lower fiscal Q4 earnings and sales.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was flat.

Hut 8 ( HUT ) shares were up 2.6% pre-bell Wednesday after the company reported higher Q1 results than a year earlier.

Industrial

Industrial Select Sector SPDR Fund (XLI) advanced 0.4% and the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

Hafnia ( HAFN ) shares lost 3.3% before the opening bell after the company reported a Q1 profit of $0.43 per share, down from $0.51 a year earlier.

Commodities

Front-month US West Texas Intermediate crude oil retreated 0.4% to $77.75 per barrel on the New York Mercantile Exchange. Natural gas was up 0.7% to $2.36 per 1 million British Thermal Units. United States Oil Fund (USO) was 0.7% lower, while the United States Natural Gas Fund (UNG) gained 0.8%.

Gold futures for June advanced 0.5% to $2,371.90 an ounce on the Comex, and silver futures were up 1.4% to $29.09 an ounce. SPDR Gold Shares (GLD) gained 0.3% and iShares Silver Trust (SLV) was 0.7% higher.