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%
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.