Trump or Harris? What the Bank Stock Rally Says About Who Will Win the Election.
Shares of large banks, including JPMorgan Chase and Wells Fargo are enjoying a strong run ahead of Election Day, a sign, according to some, that a narrow win by former President Donald Trump is likely in the cards. Analysts say a second Trump presidency would resume friendlier regulations on Wall Street firms. “Bank stocks, and the broader market, including treasuries, appear to be predicting a higher probability of a Trump victory,” D.A. Davidson research analysts led by Gary Tenner wrote in a report on Monday.