09:15 AM EDT, 05/22/2026 (MT Newswires) -- Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.6%.

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

Futu ( FUTU ) , UP Fintech's ( TIGR ) Tiger Brokers unit and Longbridge Securities face planned penalties from China's securities regulator for operating in mainland China without licenses, Bloomberg reported. Shares of Futu Holdings ( FUTU ) shares were down more than 36% and UP Fintech ( TIGR ) stock lost more than 33% premarket.

Intercontinental Exchange ( ICE ) and OKX are planning to launch perpetual futures contracts tied to oil, Bloomberg reported, citing a statement from the companies. Intercontinental Exchange ( ICE ) stock was 0.7% higher pre-bell.

JPMorgan Chase ( JPM ) is in discussions with investors over a deal to offload some of its risk exposure to more than $4 billion in private equity-linked net asset value loans, the Financial Times reported, citing unnamed people familiar with the matter. Shares of JPMorgan Chase ( JPM ) were up 0.5% premarket.