09:18 AM EST, 12/02/2024 (MT Newswires) -- Financial stocks were edging higher premarket Monday, with The Financial Select Sector SPDR Fund (XLF) up 0.1%.

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

Bread Financial Holdings ( BFH ) shares were up over 1% after the company said its board approved a $25 million increase to its 2024 share repurchase program.

KKR (KKR) and The Baupost Group said they have formed a joint venture to buy a portfolio of 33 Marriott International ( MAR ) hotels throughout the UK from an Abu Dhabi Investment Authority's unit. KKR shares were more than 3% lower pre-bell.

HSBC Holdings ( HSBC ) will launch a search process to find a successor for Chairman Mark Tucker, who has held the role since 2017, Sky News reported. HSBC ( HSBC ) shares were 0.5% higher premarket.