Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

MT Newswires2024-05-16

Financial stocks were edging higher pre-bell Thursday with the Financial Select Sector SPDR Fund (XLF) recently up 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.2% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.1%.

American International Group (AIG) said it has agreed to sell a 20% stake, or 120 million shares, of Corebridge Financial (CRBG) to Nippon Life Insurance for $31.47 per share, for a total of $3.80 billion. Corebridge Financial was up more than 10% premarket.

Blackstone (BX) has agreed to purchase a majority stake in Israeli enterprise software company Priority Software at an $800 million valuation, Bloomberg reported. Blackstone was down 0.6% premarket.

Mastercard (MA) agreed to charge Swiss debit card users 0.12% fees on domestic physical transactions with a maximum of 0.30 Swiss francs ($0.33) for purchases of at least 300 Swiss francs, the country's Competition Commission said. Mastercard was flat pre-bell.







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