08:57 AM EDT, 06/02/2025 (MT Newswires) -- Financial stocks were leaning lower pre-bell Monday with the Financial Select Sector SPDR Fund (XLF) recently declining by 0.4%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.5% higher.

HSBC ( HSBC ) will allocate $4 billion to its private credit funds, Reuters reported, citing an interview with Nicolas Moreau, chief executive of the company's asset management business. HSBC Holdings ( HSBC ) shares were up 0.4% premarket.