Sector Update: Financial Stocks Decline Premarket Monday

Last Updated: Monday, December 5, 2022 9:04 AM | MT Newswires

Financial stocks were declining premarket Monday with the Select Financial Sector SPDR (XLF) recently slipping by 0.9%. The Direxion Daily Financial Bull 3X shares (FAS) were down nearly 3% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were 2.5% higher.

Credit Suisse's (CS) spinoff CS First Boston is poised to get around $500 million of investment from Saudi Arabia's Crown Prince Mohammed bin Salman, The Wall Street Journal reported, citing unnamed people familiar with the matter. Credit Suisse was advancing by 2.6% recently.

Yiren Digital (YRD) was up nearly 0.3% after saying it has regained compliance with the New York Stock Exchange's continued listing standard that requires a minimum average closing price of $1 per share over a consecutive 30-trading-day period.

MarketAxess Holdings (MKTX) was advancing 0.02% after it reported a total trading average daily volume for November of $32.23 billion, down from $32.51 billion a year earlier.

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