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Sector Update: Financial

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Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.5%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.3% lower.

Futu (FUTU), UP Fintech's (TIGR) Tiger Brokers unit and Longbridge Securities face planned penalties from China's securities regulator for operating in mainland China without licenses, Bloomberg reported. Shares of Futu were down more than 36% and UP Fintech stock lost over 34% premarket.

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Sector Update: Financial Stocks Higher Late Afternoon

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