08:47 AM EDT, 05/30/2024 (MT Newswires) -- Financial stocks were gaining premarket Thursday, with the Financial Select Sector SPDR Fund ( XLF ) up 0.1%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 0.6% higher, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) retreated 0.6%.

Royal Bank of Canada ( RY ) shares were up 0.5% after the company said its adjusted earnings and revenue increased in fiscal Q2 and that it plans to buy back up to 30 million of its common shares.

Canadian Imperial Bank of Commerce ( CM ) shares advanced 2.8% after the company reported higher fiscal Q2 adjusted earnings and revenue.

UBS Group ( UBS ) shares were up 1.5% after the company said it is reshuffling its group executive board ahead of the merger with Credit Suisse, which takes place on Friday.