The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) was 0.6% higher in Wednesday's premarket activity, ahead of the rate decision announcement by the Federal Open Market Committee and a speech by Federal Reserve Chair Kevin Warsh.
US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.4% before the start of regular trading.
Mortgage applications fell by 4.1% in the week ended Sept. 11 as 30-year fixed mortgage rates rose to their highest level since May 2025, according to Mortgage Bankers Association data.
The New York Federal Reserve's services index fell to negative 8.7 in September from 0.5 in August, compared with a smaller expected decrease to a reading of negative 2.2 in a survey compiled by Bloomberg as of 6 am ET.
US retail sales were up 1.2% in August, a larger gain than the 0.8% increase expected in a survey compiled by Bloomberg and following the previous month's revised 0.5% decrease.
US import prices rose by 0.7% in August, above the 0.5% increase expected in a survey compiled by Bloomberg as of 6 am ET and following a 0.3% decrease in July.
Business inventories data for July and the NAHB's builder sentiment reading for September are due to be released at 10 am ET.
Weekly oil stocks data are scheduled to be released at 10:30 am ET.
In premarket activity, bitcoin was down by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% lower, Ether ETF (EETH) retreated 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell 3.2%.
Power Play:
Industrial
The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.
J.B. Hunt Transport Services (JBHT) shares were down 11% after Barclays and Wells Fargo cut their price targets for the company. Chief Financial Officer Brad Delco said in a conference call Tuesday that the company expects Q2-to-Q3 earnings to fall 5% to 10%.
Winners and Losers:
Health Care
The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was up 1%.
Alvotech (ALVO) stock was up more than 5% premarket after Barclays upgraded it to overweight from underweight and lifted its price target to $8 from $4.
Technology
The State Street Technology Select Sector SPDR ETF (XLK) advanced 0.8%, the iShares US Technology ETF (IYW) was 0.2% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.
SK Hynix (SKHY) shares were up more than 3% after the company said its tentative wage agreement with the South Korean union received the backing of 57.08% of union members, with 8,731 votes in favor.
Financial
The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.04%. Direxion Daily Financial Bull 3X Shares (FAS) was inactive, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% lower.
Huntington Bancshares (HBAN) shares were down 2% after the company revised its adjusted 2027 earnings-per-share target range to $1.75 to $1.83, reflecting lower-than-expected loan growth and net interest margins.
Energy
The iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1.1%.
Borr Drilling (BORR) shares were over 2% higher, a day after the company said it agreed to divest its 51% interest in two oil-drilling Mexican joint ventures to its partner in Mexico.
Consumer
The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%. The Vanguard Consumer Staples Index Fund ETF Shares (VDC), the iShares US Consumer Staples ETF (IYK), the State Street Consumer Discretionary Select Sector SPDR ETF (XLY), the VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were all inactive.
VinFast Auto (VFS) shares were down more than 1% pre-bell after the company said that its unit, VinFast Vietnam, has signed agreements to acquire 100% of Ngoc Hoi Real Estate Investment Joint Stock Company for 30.9 trillion Vietnamese dong ($1.20 billion).
Commodities
Front-month US West Texas Intermediate crude oil retreated by 2.1% to $103.60 per barrel on the New York Mercantile Exchange. Natural gas was up 1.7% at $2.97 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.8%, while the United States Natural Gas Fund (UNG) was 0.6% higher.
Gold futures for November were up by 1.1% at $4,380.90 an ounce on the Comex. Silver futures rose 2% to $65.14 an ounce. SPDR Gold Shares (GLD) was up by 1.1%, and the iShares Silver Trust (SLV) rose by 1.6%.