Sector Update: Financial

Financial stocks were edging higher premarket Wednesday with the Financial Select Sector SPDR Fund (XLF) recently advancing by 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% lower.

BlackRock BLK, its Global Infrastructure Partners unit, Microsoft MSFT and MGX said they are creating a global artificial intelligence infrastructure partnership to invest in data centers and energy projects to address the increasing demand. BlackRock shares were up 0.4% pre-bell.