ETFs Lower, Futures Mixed Ahead of PCE Inflation Data

Equity futures and broad exchange-traded funds showed mixed trading Wednesday ahead of the anticipated July PCE inflation report, a key gauge for Federal Reserve policy. The SPDR S&P 500 ETF Trust ($SPY+WL) registered a 0.1% decline in premarket activity, while the Invesco $QQQ+WL Trust ($QQQ+WL) shed 0.3%. Dow Jones Industrial Average futures edged up 0.03%, contrasted by a 0.2% slip in Nasdaq futures.

Economic data released included a 1% decrease in mortgage applications for the week ended August 21. Personal income rose 0.4% in July, exceeding expectations, and new orders for durable goods increased by 1.1% in the same month, also surpassing forecasts.

In premarket trading, Bitcoin saw a 0.7% decline. The ProShares Bitcoin Strategy ETF (BITO) mirrored this trend, falling 0.7%. The technology sector showed mixed signals, with the SPDR S&P Semiconductor ETF (XSD) up 1.8%, while the iShares Semiconductor ETF (SOXX) was down 0.1%. Intuit (INTU) shares dropped over 9% after issuing a cautious outlook.

### Story Arc / How We Got Here Equity futures traded mixed Wednesday as the SPDR S&P 500 ETF Trust ($SPY+WL) saw gains ahead of the Federal Reserve's meeting minutes. Investors are scrutinizing the minutes for clues on future monetary policy direction, with the market already pricing in potential rate adjustments. The broader market sentiment remains cautious as participants await further clarity on the economic outlook. Prior coverage: [/explore/spy-etf-higher-ahead-of-fed-minutes-broader-market-mixed].