Sector Update: Financial Stocks Fall Pre-Bell Wednesday

MT Newswires Live03-11

Financial stocks were falling pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.4%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.2% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.3%.

Bread Financial (BFH) shares were up more than 3% after the company reported end-of-period credit card and other loans of $18.08 billion at the end of February, up from $17.95 billion a year earlier.

OppFi (OPFI) stock was up 3.9% after the company posted higher Q4 adjusted earnings and revenue.

Morgan Stanley (MS) is hiring temporary staff in Hong Kong on a contractual basis to handle rising workforce demand amid a jump in initial public offerings while keeping costs in check, Reuters reported, citing three sources with direct knowledge of the matter. Morgan Stanley shares were 0.6% lower premarket.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment