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Sector Update: Financial Stocks Edge Lower Premarket Monday

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Financial stocks were edging lower premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) falling by 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.

Goldman Sachs-backed (GS) taxi booking app Go priced its initial public offering in Japan at 2,400 Japanese yen ($14.98) per share, according to a regulatory filing. Shares of Goldman Sachs Group were up more than 1% pre-bell.

Blackstone (BX) is preparing to offload more than $2 billion in private fund stakes through a structured bond deal, the Financial Times reported. Blackstone stock was 0.9% higher premarket.

Ares Capital (ARCC) established its inaugural commercial paper program, allowing the company to issue up to $1 billion of short-term unsecured commercial paper notes, the company said in a filing. Ares Capital shares were up 0.5% pre-bell.

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