Sector Update: Financial Stocks Advance Premarket Tuesday

MT Newswires Live04-08

Financial stocks advanced premarket Tuesday as the Financial Select Sector SPDR Fund (XLF) was 3.4% higher recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 9.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 9.9% lower.

Stifel Financial (SF) shares rose 5% after the company said it has completed its acquisition of 36 B. Riley (RILY) employee advisers, representing assets under management of about $4 billion.

JPMorgan Chase's (JPM) Campbell Global platform has raised $2.3 billion for new investments, Bloomberg reported, citing Chief Executive Officer John Gilleland. JPMorgan Chase shares were over 3% higher premarket.

PNC Financial Services Group (PNC) said its board appointed Mark Wiedman president of the company and its PNC Bank unit, effective immediately. Shares of PNC Financial Services Group advanced by over 2% pre-bell.

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