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Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

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Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 1.2%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 3.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.2% lower.

Blackstone's (BX) Blackstone Private Credit Fund said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value, according to media reports. Shares of Blackstone were up more than 1% premarket.

Bank of America (BAC) is hiring Anshul Gupta from Avendus Capital to lead its investment banking operations in India, Bloomberg reported, citing unnamed people familiar with the matter. Bank of America stock was up more than 1% pre-bell.

Brown-Forman (BF.A, BF.B) shares were down more than 1% after the company reported a decline in fiscal Q4 earnings.

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