Jim Cramer Says Financial Stocks Win Regardless of Who Takes the Election

Jim Cramer says financials are his go-to sector, because those stocks will benefit regardless of who wins the election. Cramer expects there will be a Federal Reserve rate hike next month, which would be a positive for the banking sector. He doesn't think the financial sector will be hit with new regulations even if the Democrats take control of the Senate. Cramer noted there were a few downgrades of banking stocks today, including a downgrade of Bank of America (BAC) - Get Report , and he doesn't agree with those calls.

What does the new administration mean for Wall Street? Jim Cramer's first reaction to the election is live on TheStreet's Facebook page tomorrow morning at 8am ET. He joins our team of reporters along with experts and analysts tracking the markets with us.