08:55 AM EDT, 04/24/2024 (MT Newswires) -- Financial stocks were edging lower premarket Wednesday with the Financial Select Sector SPDR Fund (XLF) recently down 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.1%.

B. Riley Financial ( RILY ) shares rallied 45% after the company reported improved annual results for 2023.

Marsh McLennan ( MMC ) was 5% lower after it said late Tuesday it has agreed to acquire Fisher Brown Bottrell Insurance for $315.9 million in cash.

Bank of N.T. Butterfield & Son ( NTB ) was up nearly 4% after the company reported forecast-beating Q1 financial results late Tuesday.