The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Wednesday's premarket activity as markets digest easing Middle East tensions.

US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.04%, and Nasdaq futures gaining 0.2% before the start of regular trading.

US mortgage applications rose 1.1% in the week ended June 20 as a rebound in refinancing offset a dip in purchase activity despite a rise in rates, Mortgage Bankers Association data showed Wednesday.

Federal Reserve Chair Jerome Powell is scheduled to testify before the Senate Banking Committee at 10 am ET.

The May new home sales bulletin will be released at 10 am ET.

In premarket activity, bitcoin was up by 1.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.3% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.2%, while the Vanguard Consumer Staples Fund (VDC) retreated 0.1%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.02%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.

QuantumScape (QS) shares were up 34% pre-bell after the company said late Tuesday it has integrated its Cobra separator process into baseline cell production, replacing the Raptor process.

Winners and Losers:

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) gained marginally by 0.03%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.5%.

AST SpaceMobile (ASTS) shares were down 6% in recent premarket activity after the company said it will buy back $225 million of its convertible debt due in 2032.

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.1%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) gained by 0.6%. The iShares Biotechnology ETF (IBB) was flat.

Alvotech (ALVO) stock was up 5% premarket after the company said that an efficacy study comparing AVT23, a proposed biosimilar to Xolair, in patients with chronic spontaneous urticarial met its primary endpoint.

Energy

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

Sunoco (SUN) stock was up more than 1% before Wednesday's opening bell after Parkland said Tuesday its shareholders voted in favor of a $9.1 billion acquisition by Sunoco, with 93.46% of votes cast in support of the deal.

Financial

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

FinVolution Group (FINV) shares were up more than 1% pre-bell Wednesday after the company said late Tuesday it completed a $150 million offering of convertible senior notes due 2030, including full exercise of a $20 million overallotment option.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.04% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

ParaZero Technologies (PRZO) stock was up more than 1% before the opening bell after the company said it has regained compliance with the Nasdaq stock exchange's minimum bid price rule.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.5% to $64.68 per barrel on the New York Mercantile Exchange. Natural gas was down 0.9% at $3.51 per 1 million British Thermal Units. United States Oil Fund (USO) was 0.1% lower, while the United States Natural Gas Fund (UNG) declined by 0.9%.

Gold futures for August gained 0.2% to reach $3,341.20 an ounce on the Comex, while silver futures were down 0.1% to $36.03 an ounce. SPDR Gold Shares (GLD) was marginally lower by 0.01%, and the iShares Silver Trust (SLV) was 0.5% lower.