The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.7% lower in Wednesday's premarket activity ahead of key economic data to be released later in the day, while investors also digest a slew of earnings.

US stock futures were mixed, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures losing 0.6% before the start of regular trading.

Mortgage applications fell by 4.2% in the week ended April 25, as both refinancing activity and new home applications declined, according to Mortgage Bankers Association data released Wednesday.

ADP's monthly measure of private payrolls showed a 62,000 increase in April, well below expectations compiled by Bloomberg as of 7:35 am ET for an increase of 115,000.

Economic reports releasing at 8:30 am ET include the Q1 gross domestic product report and the Q1 employment cost index.

The April Chicago Purchasing Managers' Index is scheduled to be released at 9:45 am ET, while the personal income and outlays report for March will be released at 10 am ET.

The National Association of Realtors' pending home sales index for March will also be released at 10 am ET, followed by the weekly Energy Information Administration petroleum status report is slated to be released at 10:30 am ET.

In premarket activity, Bitcoin was down by 0.2% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% lower.

Power Play:

Technology

Technology Select Sector SPDR Fund (XLK) lost 0.3%, and the iShares US Technology ETF (IYW) fell by 1.3%. The iShares Expanded Tech Sector ETF (IGM) declined 5.5%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) dropped by 0.2%.

Super Micro Computer (SMCI) stock fell 18% in recent Wednesday premarket activity, a day after it lowered its fiscal Q3 non-GAAP earnings and net sales outlook.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was flat, while the Vanguard Consumer Staples Fund (VDC) retreated 1.4%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) was down 0.7%. The VanEck Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT) were inactive.

Starbucks (SBUX) stock slipped 9.3% before Wednesday's opening bell, a day after the coffee chain posted lower fiscal Q2 non-GAAP EPS from a year earlier.

Industrial

Industrial Select Sector SPDR Fund (XLI) lost 0.2%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

ArcelorMittal (MT) shares dropped 6.4% before Wednesday's opening bell, after the steel manufacturer reported lower Q1 sales from a year earlier.

Health Care

The Health Care Select Sector SPDR Fund (XLV) gained 0.1%, and the Vanguard Health Care Index Fund (VHT) rose by 0.5%. The iShares US Healthcare ETF (IYH) was inactive, while the iShares Biotechnology ETF (IBB) was 0.2% higher.

Humana (HUM) shares rose 5.3% pre-bell Wednesday, after it posted higher Q1 adjusted earnings and revenue from a year earlier.

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was 0.5% lower.

Northern Oil and Gas (NOG) shares rose over 3% before the bell Wednesday, after it posted overnight higher Q1 adjusted earnings and total revenue year-over-year.

Financial

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

UBS Group (UBS) stock was down 1% before the opening bell on Wednesday, after the Swiss lender reported lower Q1 EPS and total revenue from year-ago figures.

Commodities

Front-month US West Texas Intermediate crude oil fell 0.7% to $59.98 per barrel on the New York Mercantile Exchange. Natural gas lost 1.4% to $3.34 per 1 million British Thermal Units. United States Oil Fund (USO) was down by 0.5%, while the United States Natural Gas Fund (UNG) was 1.4% lower.

Gold futures for June were down 1.4% at $3,287.5 an ounce on the Comex, while silver futures retreated 3.3% to $32.49 an ounce. SPDR Gold Shares (GLD) fell 1.3%, and the iShares Silver Trust (SLV) was 1.6% lower.