Sector Update: Financial

Financial stocks were edging higher premarket Wednesday with the Financial Select Sector SPDR Fund (XLF) up 0.4% recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.5%.

New York Community Bancorp NYCB shares advanced by over 4% after the company said it has entered into a commitment letter to sell about $5 billion in mortgage warehouse loans to JPMorgan Chase Bank.