09:03 AM EDT, 05/22/2025 (MT Newswires) -- Financial stocks leaned lower pre-bell Thursday with the Financial Select Sector SPDR Fund (XLF) recently declining by 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.

Toronto-Dominion Bank ( MLWIQXX ) said it initiated a new restructuring program in Q2, including a 2% reduction in workforce, to cut costs and improve efficiency. The company also reported lower fiscal Q2 adjusted earnings, while revenue increased. Shares of Toronto-Dominion Bank ( MLWIQXX ) were up 1% premarket.