Sector Update: Financial Stocks Advance Premarket Thursday
Financial stocks were advancing premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.6% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.3% lower.Deutsche Bank (DB) stock was up more than 6% after the company said it has reached a new collective bargaining package for Postbank workers with trade unions.Robinhood Markets (HOOD) Chief Executive Officer Vlad Tenev believes the UK should expand retail share buying by replicating successful US retirement and investment strategies, Bloomberg News reported, citing a Bloomberg Television interview with Tenev. Shares of Robinhood Markets were up more than 3% pre-bell.Yiren Digital (YRD) shares were up more than 19% after the company said its board approved a new $20 million share repurchase program, allowing it to buy back up to 10% of its outstanding shares or American depositary shares over the next 12 months.
