The election of Donald Trump in November and a swing back to Republican power in Washington is already starting to make an impact in the business world, according to Goldman Sachs CEO David Solomon.

Investors have been hoping Donald Trump's return to the White House next week will boost the U.S. stock market, while Goldman Sachs sees stocks benefiting from the biggest expected company buybacks in at least five years.

JPMorgan notched a record profit of $58.5 billion, up from $49.6 billion in 2023, America’s biggest bank reported on Wednesday. Goldman Sachs said its profits soared to $14 billion in 2024, compared to $8.5 billion a year earlier.

On Monday, Trump will be sworn in as the 47th US president, making his vows over his mother’s Bible and another used by Abraham Lincoln in 1861. The ceremony at the US Capitol will feature country music singers Carrie Underwood and Lee Greenwood, who sells a $59.99 Bible endorsed by the president-elect.

Wall Street’s biggest banks posted record profits after Donald Trump’s election triumph triggered a US stock market trading frenzy...

Goldman Sachs is hardly alone in predicting a further 5% jump in the dollar this year. Commodity Futures Trading Commission data find that investors — from big asset managers to hedge funds — are the most optimistic about the dollar’s upside since 2019.

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. U.S. markets will be closed Monday for the Martin Luther King holiday. Donald Trump's inauguration also will be Monday,

History shows stocks can usually handle a gradual rise in yields just fine, according to analysts at Goldman Sachs. But the S&P 500 has tended to struggle if the 10-year yield moves more than two standard deviations, which would currently be equal to around 60 basis points, or 0.6 percentage points, in a month, they found (see chart below).

JPMorgan Chase stands head-and-shoulders above the rest of this group of largest U.S. banks by ROAA, while Morgan Stanley runs a pretty close second when its performance is measured by ROTCE. And with such a large balance sheet, it is not a stretch to call JPM the best performer in the U.S. banking industry.

Four of Canada’s biggest lenders said on Friday they were withdrawing from a global banking sector climate coalition, joining six major U.S. banks.

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Like Clinton before him, Trump now faces the prospect of bond vigilantes becoming a potent check on his policy agenda, according to several former U.S. and foreign policymakers who faced market turmoil while in office.