Goldman, Citi boosted by Trump trading
Goldman Sachs and Citigroup both beat earnings expectations thanks to post-election trading that's benefited banks across the board (see: JPMorgan and Bank of America). Goldman posted a 25% increase in revenue from its trading and securities business, which benefitted from greater volatility related to uncertainty over the new government's economic policies.
Goldman's upside: Goldman shares are up 32% since the presidential election; it may benefit from financial deregulation even more than some other banks, given that it still maintains a big trading business.
Citi's downside: Citi shares are up just 13% since election day. it may be more vulnerable to a backlash against globalization, as much of Citi's revenue comes from its international operations.