Financial stocks were advancing pre-bell Monday, with the Financial Select Sector SPDR Fund (XLF) 0.8% higher.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 2.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% lower.

JPMorgan Chase (JPM) shares were up more than 1% after the company said it will make direct equity and venture capital investments of up to $10 billion as part of a new $1.5 trillion, 10-year plan to facilitate, finance and invest in industries "critical" to US economic security.

Bank of America (BAC) is planning a significant risk transfer associated with a $3 billion portfolio of loans to private market funds, Bloomberg News reported, citing people familiar with the matter. Bank of America stock was up more than 1% premarket.

The US Treasury selected Banco Santander (SAN) to purchase Argentine pesos in the market Thursday as part of a broader support effort, Bloomberg News reported, citing sources familiar with the matter. Banco Santander shares were up more than 2% pre-bell.