Why banks are (probably) rooting for Donald Trump
Published On Nov 4, 2024, 6:23 AM
The article discusses how banks may have a favorable view of Donald Trump due to his previous policies that benefited the financial industry, such as deregulation. Trump’s potential return to power could lead to a regulatory environment that banks prefer, particularly regarding interest rates and capital requirements, which could boost their profitability. The article suggests that if banks support Trump, there could be positive ramifications for the financial sector's performance in the stock market.
Stock Forecasts
XLF
Positive
The financial sector is likely to benefit from a return to Trump's policies, which may favor banks through deregulation and increased profitability. Stocks in this sector could see upward movement as investor sentiment improves with the perceived advantage of Trump's potential policies.
Related News
Investors are counting on Jay Powell to keep Fed rate cut plans on track
Nov 4, 2024, 4:00 AM
The Fed is poised to cut rates by a quarter point this week despite some signs of stubborn inflation and mixed signals about the job market.
El-Erian: Interest rates, inflation moving in right direction, but lower prices 'not going to happen'
Nov 3, 2024, 2:04 PM
Allianz chief economic adviser Mohamed El-Erian warned that even though inflation has cooled significantly, prices consumers face are unlikely to decrease.
Stock market today: Nasdaq, S&P 500 rebound as Amazon surges, market shrugs off jobs data
Nov 1, 2024, 2:59 PM
Markets are taking a big miss in the monthly jobs report in their stride as they welcome Amazon and Intel's results.