08:05 AM EDT, 05/06/2024 (MT Newswires) -- Financial stocks were advancing premarket Monday, with the Financial Select Sector SPDR Fund (XLF) gaining 0.6%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.7% higher, while bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) retreated 1.6% recently.

Loews ( L ) shares rose 4% after the company reported Q1 earnings of $2.05 per diluted share, up from $1.61 a year earlier.