((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
Nov. 6 – **Economically sensitive stocks of major U.S. banks rise in premarket trading as Republican Donald Trump claims victory in 2024 presidential contest
** Major US banks JPMorgan Chase JPM.N, Wells Fargo WFC.N, Goldman Sachs GS.N, Morgan Stanley
MS.N, Citigroup CN and Bank of America BAC.N gain between 5.7% and 7% before the bell
** Trump claimed victory in the 2024 presidential contest after Fox News projected he had defeated Democrat Kamala Harris, capping a stunning political comeback four years after he left the White House.
** Analysts said a Trump victory could boost banks through improved domestic investment, easing regulations, domestic job creation and tax cuts
** The environment for large multi-billion deals is also likely to be boosted by a Republican presidency, with the hope of a more lenient approach to competition enforcement
**Meanwhile, S&P 500 futures hit a record high in a large, broad-based rally on Wednesday.N
** At last close, the S&P 500 Banks Index .SPXBK was up ~26% year to date, outperforming the ~20% rise in the benchmark S&P 500 Index .SPX .
