Financial stocks were advancing premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.5% lower.

Toronto-Dominion Bank (TD) said the Office of the Superintendent of Financial Institutions Canada has approved the bank's previously announced buyback program of up to 10 billion Canadian dollars ($7.03 billion) of common shares, not to exceed 61 million shares. Shares of Toronto-Dominion Bank were 0.2% higher pre-bell.