Wall Street bosses yesterday hailed the return of Donald Trump as they revealed bumper profits and said businesses were looking forward to a more ‘pro-growth agenda’.
JP Morgan, Goldman Sachs, Wells Fargo and Citigroup were buoyed by a rebound in dealmaking.
Markets have already been lifted by Trump’s election victory – ahead of his inauguration next Monday – and the prospect that it will mean less regulation and lower taxes.
Annual profits at JP Morgan rose 18 per cent to £47.8billion.
For the fourth quarter they surged by 50 per cent. Chief executive Jamie Dimon said: ‘The US economy has been resilient.
‘Businesses are encouraged by expectations for a more pro-growth agenda,’ he said.
Business boost: Markets have already been lifted by Trump’s election victory and the prospect that it will mean less regulation and lower taxes
Profits for 2024 at Goldman Sachs were up by 68 per cent to £11.7billion.
The investment bank’s quarterly profit of £3.4billion was the biggest for more than three years.
Wells Fargo boss Charlie Scharf said: ‘We feel optimistic about where we are going into 2025.’
It revealed its annual profit climbed 3 per cent to £16.1billion.
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