Sector Update: Financial Stocks Decline Premarket Tuesday

MT Newswires Live07-02 21:15

Financial stocks were declining premarket Tuesday as the Financial Select Sector SPDR Fund (XLF) was 0.3% lower recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, and bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.

Mizuho Financial Group (MFG) Mizuho Bank Chief Executive Masahiko Kato told Bloomberg in an interview on Tuesday that mid-cap Japanese are considering buyouts and other options. Mizuho Financial Group was up more thanr 1% premarket.

Blue Owl Capital (OWL) said it has completed the acquisition of investment management firm Kuvare Insurance Services and officially launched Blue Owl Insurance Solutions to serve insurance clients. Blue Owl Capital was down more than 3% pre-bell.

HSBC Holdings (HSBC) is curbing hiring and has asked investment bankers to reduce travel and entertainment expenses as outgoing Chief Executive Noel Quinn aims to cut costs, Bloomberg reported, citing people familiar with the matter. HSBC Holdings was 0.1% lower premarket.

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