Sector Update: Financial
MT newswire2026/10/07 13:0609:06 AM EDT, 10/07/2026 (MT Newswires) -- Financial stocks were declining pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.5% lower. The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.7% higher. HSBC (HSBC) is considering sweeping job cuts in its UK wealth management business as part of a drive toward AI-powered services, the Financial Times reported, citing people familiar with the plans. Shares of HSBC were down more than 3% premarket.
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