08:58 AM EDT, 10/22/2025 (MT Newswires) -- Financial stocks were edging higher pre-bell Wednesday, with the Financial Select Sector SPDR Fund (XLF) advancing by 0.2%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.

Capital One Financial ( COF ) stock was up nearly 6% after the company's board approved a new repurchase authorization for up to $16 billion common shares. Chief Financial Officer Andrew Young said Capital One Financial ( COF ) also expects to raise its quarterly dividend to $0.80 per share starting in Q4.