10:08 AM EST, 01/31/2025 (MT Newswires) -- Financial stocks were edging lower in early trading Friday with the Financial Select Sector SPDR Fund (XLF) recently falling by 0.05%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 0.1% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was up 0.3%.

Franklin Resources ( BEN ) reported lower fiscal Q1 adjusted earnings and higher operating revenue. The company's shares were up 0.2%.

Apollo Global Management ( APO ) said it will invest $500 million in subordinated notes issued by Aldar Properties. The company's shares rose 0.9%.

Piper Sandler ( PIPR ) shares were up 6.5% after it reported higher Q4 adjusted earnings and net revenue.