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Sector Update: Financial Stocks Advance Premarket Monday

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Financial stocks were advancing premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.8% higher.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% lower.

Northern Trust (NTRS) has been selected to provide fund administration and related services to alternative asset manager Dawson Partners, the company said. Shares of Northern Trust were up more than 2% pre-bell.

Bank of Hawaii (BOH) stock was up 3% after the company posted higher Q2 earnings and revenue.

HSBC Holdings (HSBC) plans to launch an artificial intelligence facility in Singapore in H2 to develop AI capabilities that can be used across its global operations, the company said. Shares of HSBC Holdings were 0.6% higher pre-bell.

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