Wall Street erupted in a frenzy of buying on Wednesday as Donald Trump secured his second presidential victory. Banking stocks led the charge, with JPMorgan Chase soaring over 9.79% and Goldman Sachs climbing more than 12.42% . Traders rushed to position themselves for what many called "Trump Trade 2.0" – betting on lower corporate taxes, looser regulations, and a more business-friendly environment that could boost bank profits.
Source: xStation
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Open account Try demo Download mobile app Download mobile app"It's like 2016 all over again, but bigger," remarked veteran trader Sarah Chen, watching her terminal as bank stocks hit new highs. The KBW Bank Index recorded its best single-day performance since 2022, while regional banks surged even higher on hopes of reduced regulatory oversight. By mid-day, the banking sector had helped push the S&P 500 to record levels, marking what analysts called "the dawn of a new era for financial stocks.
Both JPMorgan Chase and Goldman Sachs stocks are at their ATH. The RSI is approaching ovebought levels with MACD in bullish divergence. Source: xStation
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