Financial Sector Update for 01/24/2023: BX, TRV, COLB, XLF, FAS, FAZ

Financial stocks were declining premarket Tuesday as the Financial Select Sector SPDR Fund (XLF) was recently slipping by 0.4%. The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was over 1% higher.

Blackstone (BX) is in discussions to sell about half of its stake in Embassy Office Parks, India's largest real estate investment trust, to Bain Capital in a transaction valued at up to $480 million, Reuters reported, citing two unnamed sources. Blackstone was recently up 1.2%.