Sector Update: Financial Stocks Slip Pre-Bell Friday

Last Updated: Friday, August 19, 2022 9:22 AM | MT Newswires

Financial stocks were slipping pre-bell Friday with the Select Financial Sector SPDR (XLF) declining by 0.76% recently. The Direxion Daily Financial Bull 3X shares (FAS) were down more than 2%, and bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were over 2% higher.

360 DigiTech (QFIN) was more than 5% lower after it reported Q2 adjusted earnings of 6.42 renminbi ($0.96) per diluted American depositary share, down from 10.03 renminbi a year earlier.

Robinhood Markets (HOOD) was declining by more than 3% after saying total trading volumes in July declined year-over-year by 33% for equities, 29% for options contracts and 59% for cryptocurrencies.

Ohio Valley Banc (OVBC) was climbing past 2% after saying its board has approved extending its existing share-buyback program by one year to Aug. 31, 2023.

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