Shares of banks and other financial institutions rose as traders bet the second Trump administration would be a bonanza for dealmakers and speculators.

Investment bank Goldman Sachs Group, which often positions itself in the middle of the most lucrative deals and trades, rose by more than 2% to all-time highs.

U.S. Securities and Exchange Commission Chair Gary Gensler will leave his post on Jan. 20, the agency said today, exiting the Wall Street watchdog as President-elect Donald Trump is inaugurated.

Trump, an outspoken supporter of digital currencies had already vowed to oust Gensler, one of the most prominent cryptocurrency skeptics. Bitcoin was set to test the $100,000 level.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-21-24 1729ET