Financial Sector Update for 06/03/2024: FANH, BIDU, BX, XLF, FAS, FAZ

Financial stocks were edging higher pre-bell Monday with the Financial Select Sector SPDR Fund (XLF) recently up 0.03%.

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

Fanhua (FANH) said it will collaborate with Baidu (BIDU) AI Cloud to jointly develop an AI-powered insurance sales assistant application. Fanhua shares were down 2.8% pre-bell.

Blackstone (BX) is exploring the sale of Japanese consumer healthcare firm Alinamin Pharmaceutical for around 300 billion yen ($1.9 billion), Bloomberg reported, citing people familiar with the situation. Blackstone shares were up 0.4% premarket.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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