Why Bank of America, Visa, and Capital One Are Ripping After a Trump Victory

Bank stocks surged after numerous publications and major television networks declared Donald Trump the winner of the election and the incoming 47th president of the United States. The SPDR S&P Regional Banking exchange-traded fund traded nearly 11% higher at 10:45 a.m. ET, the biggest single-day move I can recall while covering bank stocks.Shares of the second-largest bank in the country, Bank of America (NYSE: BAC), traded nearly 7% higher. Meanwhile, shares of Visa (NYSE: V) traded nearly 4% higher, while shares of Capital One (NYSE: COF) had exploded by nearly 20% at one point this morning before paring some of those gains.I wrote last week that bank stocks would be one of the big beneficiaries of a Trump victory. While not exactly a campaign issue for either party, banking regulators under the Biden administration have been tough for bank stocks. They have delayed merger and acquisition approval times, and proposals regarding tougher capital and liquidity regulations have been an overhang on the sector for some time. Trump instituted deregulation for the sector during his first term as president. Republicans also flipped the Senate and could take control of the U.S. House of Representatives.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool