JPMorgan, Bank of America, Citi Profit From Trump Election Thanks to Trading Revenue Jump
Big banks have seen a surge in trading volume since the presidential election, and that bodes well for earnings.
Big banks have rallied since Donald Trump's election, and their profits look promising too, thank to a bit jump in total trading revenue.
Morgan Stanley (MS) - Get Report probably had the biggest jump in total trading revenue, with a gain of 23%, according to an analyst at Deutsche Bank. JPMorgan Chase (JPM) - Get Report and Citigroup (C) - Get Report likely will report a 21% increase in trading volume, followed by Bank of America (BAC) - Get Report and Goldman Sachs (GS) - Get Report .
Prospects look bright for this year too. A Morgan Stanley analyst says lower taxes and less regulation could "set the stage for the bull case."
