Financial Sector Update for 01/25/2023: USB, NDAQ, SF, XLF, FAS, FAZ

Financial stocks were declining pre-bell Wednesday as the Financial Select Sector SPDR Fund (XLF) was declining by 0.8% recently. The Direxion Daily Financial Bull 3X Shares (FAS) was down nearly 3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was more than 2% higher.

U.S. Bancorp (USB) reported Q4 GAAP earnings of $0.57 per diluted share, down from $1.07 a year earlier. On an adjusted basis, Q4 earnings were $1.20 per share. U.S. Bancorp shares were marginally gaining recently.