09:19 AM EDT, 07/09/2025 (MT Newswires) -- Financial stocks were edging lower pre-bell Wednesday with the Financial Select Sector SPDR Fund (XLF) down 0.9% recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 2.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was up 2.8%.

Bank of New York Mellon ( BK ) has been selected by Ripple for primary custody of Ripple USD stablecoin reserves, the companies said. Shares of Bank of New York Mellon ( BK ) were 0.6% lower premarket.

B. Riley Financial ( RILY ) shares were up more than 2% after the company said it has amended its senior secured credit agreement with funds managed by Oaktree Capital Management to add an incremental $100 million.

Saratoga Investment ( SAR ) shares were down 0.6% after the company reported lower fiscal Q1 adjusted net investment earnings and total investment income.