08:59 AM EDT, 07/16/2025 (MT Newswires) -- Financial stocks were advancing premarket Wednesday, with The Financial Select Sector SPDR Fund (XLF) up 0.5%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.6% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.5%.

Progressive (PGR) shares were up more than 4% after the company reported higher Q2 earnings and net premiums written.