Bank stocks rose Wednesday as investors anticipated less regulation in the sector following Donald Trump’s projected victory. Citigroup gained 8% in premarket trading, while Bank of America, Wells Fargo, and Goldman Sachs saw similar rises. Trump's lead over Kamala Harris has fueled expectations that GOP-led deregulation will benefit financial stocks. Bank stocks may benefit under GOP-led deregulation, with potential reductions in Consumer Financial Protection Bureau oversight and eased regulations on capital requirements and crypto policies. However, analyst Jaret Seiberg warns of inflation risks from Trump’s tariff and deportation plans.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Bank stocks rose Wednesday as investors anticipated less regulation in the sector
00:06following Donald Trump's projected victory.
00:08Citigroup gained 8% in pre-market trading,
00:11while Bank of America, Wells Fargo, and Goldman Sachs saw similar rises.
00:15Trump's lead over Kamala Harris has fueled expectations that GOP-led
00:20deregulation will benefit financial stocks.
00:23Bank stocks may benefit under GOP-led deregulation,
00:26with potential reductions in Consumer Financial Protection Bureau
00:30oversight and eased regulations on capital requirements and crypto policies.
00:35However, analyst Jared Seiberg warns of inflation risks
00:39from Trump's tariff and deportation plans.
00:42For all things money, visit Benzinga.com.