08:57 AM EDT, 07/30/2024 (MT Newswires) -- Financial stocks were advancing premarket Tuesday as the Financial Select Sector SPDR Fund (XLF) was up 0.4% recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.2% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.2%.

PayPal Holdings ( PYPL ) shares rose nearly 8% after it reported higher Q2 adjusted earnings and net revenue. The company also raised its full-year outlook for adjusted earnings per share.