Sector Update: Financial Stocks Lean Lower Premarket Monday

MT Newswires Live11-04 22:18

Financial stocks were leaning lower premarket Monday as the Financial Select Sector SPDR Fund (XLF) was recently down 0.2%.

The Direxion Daily Financial Bull 3X Shares (FAS) was marginally up and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.

B. Riley Financial-backed (RILY) Franchise Group on Sunday began voluntary Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware, B. Riley said in a filing. Shares of B. Riley Financial fell by over 9% pre-bell.

Loews (L) shares were up 2% after the company reported higher Q3 earnings and revenue.

Affiliated Managers Group (AMG) shares were down 5% after the company reported Q3 economic earnings and revenue that missed estimates from analysts polled by Capital IQ.

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