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Sector Update: Financial Stocks Lean Lower Pre-Bell Friday

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Financial stocks were leaning lower pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.4% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.6%.

HSBC (HSBC) has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported, citing two sources familiar with the decision-making process. HSBC shares were down more than 2% premarket.

Mizuho Financial (MFG) shares were down more than 2% after the company issued fiscal 2026 earnings forecast below analysts' expectations. Separately, Mizuho Financial plans to reduce its stake in Orient to about 33.8% from more than 48% by selling 15% stake, Bloomberg reported, citing the company.

Nu Holdings (NU) stock was down more than 6% after the company reported Q1 revenue that missed analysts' estimates.

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