08:58 AM EDT, 06/05/2024 (MT Newswires) -- Financial stocks were advancing premarket Wednesday with the Financial Select Sector SPDR Fund (XLF) 0.3% higher recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.

Ambac Financial Group ( AMBC ) was down more than 2% after announcing definitive deals to acquire a 60% controlling stake in Beat Capital Partners for about $282 million and to sell its legacy financial guarantee businesses to funds managed by Oaktree Capital Management for $420 million in cash.