Sector Update: Financial Stocks Edge Higher Premarket Thursday

MT Newswires Live08-29

Financial stocks were edging higher premarket Thursday, with The Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.3% lower.

Blue Owl Capital (OWL) shares were up more than 3% after the company announced a joint venture agreement with Chirisa Technology Parks and PowerHouse Data Centers to develop large-scale AI/HPC data centers.

Canadian Imperial Bank of Commerce (CM) stock was up over 2% after the company reported higher fiscal Q3 adjusted earnings and revenue in addition to saying it plans to buy back up to 20 million common shares.

Main Street Capital (MAIN) stock was 0.9% higher after the company said it completed a portfolio investment of $11.2 million "to facilitate the majority recapitalization" of MoneyThumb, a financial analysis software serving the cash advance and accounting industries.

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