US bank stocks are climbing

Donald Trump’s electoral win may have sent markets into shock on Tuesday night, but bank stocks are climbing on Wednesday.

As of about 10:20 am ET Wednesday:

  • JPMorgan was up about 3%
  • Goldman Sachs was up about 2%
  • Morgan Stanley was up about 2.5%
  • Bank of America was up about 3.5%
  • Wells Fargo was up about 3%

Trump’s win confounded the polls and sent volumes in the futures market surging.

Markets then bounced back, as the world digested the news and Trump’s conciliatory victory speech. VIX futures, or bets on the so-called Fear Index, subsided after jumping as the election results turned toward Trump.

Bank stocks are typically seen as a gauge for the financial industry more broadly.

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