Sector Update: Financial Stocks Decline Premarket Friday
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Financial stocks are declining premarket, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.4%. The Direxion Daily Financial Bull 3X Shares (FAS) fell 1.1%, while the Direxion Daily Financial Bear 3X Shares (FAZ) rose 1.3%. Western Union (WU) shares dropped over 10% due to lower Q1 earnings and revenue. Jefferies Financial Group (JEF) stock decreased by 0.5% after pricing a $1.1 billion public offering of senior notes. Conversely, First Hawaiian (FHB) shares increased by 1.7% following higher Q1 earnings and revenue.
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