08:34 AM EDT, 03/19/2025 (MT Newswires) -- Financial stocks were edging higher pre-bell Wednesday with the Financial Select Sector SPDR Fund (XLF) recently advancing by 0.1%.

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

Morgan Stanley ( MS ) plans to lay off about 2,000 employees, or 2% to 3% of its workforce, later this month, multiple news outlets reported Tuesday, citing people familiar with the matter. Morgan Stanley ( MS ) shares were up 0.2% pre-bell Wednesday.