Sector Update: Financial Stocks Lean Lower Premarket Thursday
Financial stocks were leaning lower premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.Cambridge University is pulling out funds from HSBC (HSBC), Barclays (BCS), and other institutions that continue to finance fossil fuels, Bloomberg reported, citing sources familiar with the matter. HSBC shares were down more than 2% and Barclays stock fell past 1% pre-bell.Banco Macro (BMA) shares were down more than 1% after the company reported Q1 net income that missed analysts' expectations.Toronto-Dominion Bank (TD) stock was marginally advancing after the company posted higher fiscal Q2 adjusted earnings.
