09:17 AM EDT, 07/16/2025 (MT Newswires) -- Financial stocks were advancing premarket Wednesday as the Financial Select Sector SPDR Fund (XLF) was up 0.4% recently.

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

Progressive (PGR) shares were up 4.4% after the company reported higher Q2 earnings and net premiums written.

Goldman Sachs ( GS ) shares were up 0.6% after the company reported higher Q2 earnings and net revenue.

Bank of America ( BAC ) shares were up nearly 1% after the company reported higher Q2 earnings and revenue.