Sector Update: Financial

MT newswire2026/10/16 12:59

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08:59 AM EDT, 10/16/2026 (MT Newswires) -- Financial stocks were rising premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%. The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower. Cohen & Steers (CNS) shares were up more than 5% after the company posted higher Q3 adjusted earnings and revenue.

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NAION is an eye disease that can cause sudden, painless loss of vision, with some patients potentially experiencing permanent visual impairment. The drugs involved include products from Eli Lilly and Novo Nordisk. According to analysts at Citi, the incidence of NAION is relatively low, and given the significant benefits of GLP-1 drugs in weight control and blood sugar management, the actual impact on prescription behavior is expected to be limited. On Monday, the stock prices of Eli Lilly and Novo Nordisk increased, with the news not causing any significant impact on their share prices.

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