07:53 AM EDT, 04/24/2024 (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) was 0.6% higher in Wednesday's premarket activity, as earnings continue to pour in.

US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.5% before the start of regular trading.

In the week ended April 19, Mortgage Bankers' Association data revealed a 2.7% decrease in US mortgage applications, attributed to rising mortgage rates that dampened both refinancing and new home loan activity. According to data released Wednesday, this decline follows a 3.3% increase the previous week, with a notable 6% drop in refinancing applications and a 1% decline in new purchase applications.

The March durable goods orders bulletin will be released at 8:30 am ET, followed by the weekly EIA domestic oil inventories report at 10:30 am, and the Atlanta Fed Survey of Business Uncertainty for April at 11 am.

In premarket action, bitcoin slipped 0.03% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) slipped 0.1%, while the Vanguard Consumer Staples Fund (VDC) retreated 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) gained 1.2%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 0.3% lower.

Tesla (TSLA) shares were up more than 12% in premarket activity on Wednesday after analysts opined that the company's plan to tackle slowing growth with a relatively quick introduction of new products and technology helped offset its Q1 earnings and sales miss.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund (XLI) slipped 0.1% and the Vanguard Industrials Index Fund (VIS) was inactive, while the iShares US Industrials ETF (IYJ) was also inactive.

Vertiv Holdings ( VRT ) stock was up over 19% before the opening bell after the company reported 60% higher Q1 organic orders and 8% higher Q1 net sales compared with the prior year.

Technology

Technology Select Sector SPDR Fund (XLK) was up 0.5%, and the iShares US Technology ETF (IYW) was 0.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was also inactive, while the iShares Semiconductor ETF (SOXX) rose by 2%.

Enphase Energy ( ENPH ) shares were down more than 8% in premarket activity on Wednesday after the company's Q1 earnings and sales fell more than Capital IQ analysts' forecast, and its Q2 revenue guidance also missed expectations.

Financial

Financial Select Sector SPDR Fund (XLF) lost 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was flat, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.% lower.

Marsh McLennan ( MMC ) shares were down 5% pre-bell Wednesday after the company said late Tuesday it agreed to acquire Fisher Brown Bottrell Insurance for $315.9 million in cash.

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated marginally by 0.01%. The Vanguard Health Care Index Fund (VHT), the iShares US Healthcare ETF (IYH), and the iShares Biotechnology ETF (IBB) were inactive.

Centessa Pharmaceuticals ( CNTA ) was down 1.1% premarket after the company said late Tuesday it priced an underwritten public offering of about 10.8 million American depositary shares at $9.25 per ADS for expected gross proceeds of about $100 million.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was down by 0.7%.

Baker Hughes ( BKR ) was down 2.2% before Wednesday's opening bell even after the company overnight reported higher Q1 adjusted earnings and revenue late Tuesday.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.7% at $82.77 per barrel on the New York Mercantile Exchange. Natural gas retreated nearly 0.4% to $1.81 per 1 million British Thermal Units. United States Oil Fund (USO) lost 0.6%, while the United States Natural Gas Fund (UNG) was 0.8% lower.

Gold futures for June retreated 0.6% to $2,329.20 an ounce on the Comex, and silver futures were down by 0.7% to $27.44 an ounce. SPDR Gold Shares (GLD) lost 0.4%, and iShares Silver Trust (SLV) was 0.9% lower.