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 0.1% higher in Wednesday's premarket activity as all eyes turn to Nvidia's (NVDA) earnings release due later in the day.

US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.03%, and Nasdaq futures gaining 0.1% before the start of regular trading.

US mortgage applications slipped 0.5% in the week ended Aug. 22 as refinancing dropped 4% and purchase activity rose 2% amid higher rates, Mortgage Bankers Association data showed Wednesday.

The weekly EIA petroleum status report will be released at 10:30 am ET, followed by the Atlanta Federal Reserve Survey of Business Uncertainty for August at 11 am ET.

Richmond Fed President Thomas Barkin is also scheduled to speak on Wednesday.

In premarket activity, bitcoin was up marginally by 0.01%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was flat, Ether ETF (EETH) was down 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.01% lower.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) advanced 0.3%, while the iShares US Technology ETF (IYW) and the iShares Expanded Tech Sector ETF (IGM) were inactive. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was up 0.03%, while the iShares Semiconductor ETF (SOXX) gained by 0.1%.

MongoDB's (MDB) shares were up more than 29% in recent premarket activity after the company overnight reported higher fiscal Q2 earnings and sales in addition to raising its fiscal 2026 outlook.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 0.03%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) was 0.6% higher.

Canada Goose's (GOOS) shares were up more than 14% pre-bell after CNBC reported Tuesday, citing sources familiar with the matter, that controlling shareholder, Bain Capital, has received offers to take the luxury apparel maker private at a roughly $1.40 billion valuation.

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.

Donaldson (DCI) stock was down nearly 1% before the opening bell even after the company posted higher fiscal Q4 adjusted earnings and net sales.

Health Care

The Health Care Select Sector SPDR Fund (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT) was up 0.1% while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.

Eli Lilly (LLY) stock was down 1% premarket after the company said that its experimental drug Verzenio, combined with endocrine therapy, showed a statistically significant improvement in overall survival in patients with a certain type of breast cancer, compared to endocrine therapy alone, in a phase 3 study.

Financial

Financial Select Sector SPDR Fund (XLF) advanced 0.04%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was flat.

Royal Bank of Canada (RY) shares were up more than 3% pre-bell Wednesday after the company reported higher fiscal Q3 adjusted earnings and revenue.

Energy

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

MPLX (MPLX) stock was up more than 1% before Wednesday's opening bell after the company said that it signed a definitive deal to sell its Rockies gathering and processing assets to a Harvest Midstream subsidiary for $1 billion in cash.

Commodities

Front-month US West Texas Intermediate crude oil was up 0.1% at $63.31 per barrel on the New York Mercantile Exchange. Natural gas declined 1.5% to $2.68 per 1 million British Thermal Units. United States Oil Fund (USO) advanced by 0.2%, while the United States Natural Gas Fund (UNG) was 0.5% lower.

Gold futures for December lost nearly 0.3% to reach $3,423.80 an ounce on the Comex, while silver futures were down 0.7% at $38.84 an ounce. SPDR Gold Shares (GLD) retreated nearly 0.4%, and the iShares Silver Trust (SLV) was 0.7% lower.