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Sector Update: Financial Stocks Rise Pre-Bell Tuesday

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Financial stocks were rising pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.7% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.3%.

Bank of Nova Scotia (BNS) stock was up more than 1% after the company reported higher fiscal Q3 adjusted earnings and revenue.

Bank of Montreal (BMO) posted higher fiscal Q3 adjusted earnings and revenue, and announced plans to buy back up to 25 million of its common shares for cancellation. Shares of Bank of Montreal were 0.6% lower premarket.

Royal Bank of Canada (RY) said it has formally established Global Transaction Banking as a single global business to expand its banking services across markets. Royal Bank of Canada stock was up 0.3% pre-bell.

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