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Sector Update: Financial Stocks Decline Pre-Bell Thursday

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Sector Update: Financial Stocks Decline Pre-Bell Thursday

Jun 12, 2025 6:54 AM

09:17 AM EDT, 06/12/2025 (MT Newswires) -- Financial stocks were declining pre-bell Thursday, with the Financial Select Sector SPDR Fund (XLF) 0.5% lower recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was down 1.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 1.7% higher.

Baldwin Insurance Group ( BWIN ) shares were up more than 1% after the company said its subsidiary, Westwood Insurance Agency, has agreed to acquire Hippo's (HIPO) homebuilder distribution network.

Bank of America ( BAC ) expects Q2 investment banking fees to decrease roughly 25%, Bloomberg News reported, citing Chief Executive Brian Moynihan. Bank of America ( BAC ) shares were down 0.5% premarket.

BlackRock ( BLK ) said it is targeting $400 billion in private-markets fundraising by 2030. BlackRock ( BLK ) shares were 0.9% higher premarket.

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