Financial stocks experienced a surge after Donald Trump won the 2024 U.S. presidential race against Vice President Kamala Harris.
JPMorgan Chase shares rose by over 8%, Goldman Sachs saw an increase of more than 9%, and Bank of America climbed over 7% in early trading.
The major bank shares index also saw an uptick of approximately 8%, with regional bank stocks performing even better.
This positive momentum extended to the financial sector of the S&P 500, with credit-card companies like Discover, Capital One, and Synchrony all rising by 14% or more.
The Dow, Nasdaq, and S&P 500 indices also experienced substantial morning gains.