Wall Street banks anticipate golden age under Trump amid strong profits and optimism Major financial institutions post record profits as expectations for growth rise amidst political change

The S&P 500 was 1.5% higher in early trading. The Dow Jones Industrial Average was up 652 points, or 1.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.7% higher.

U.S. stocks ripped higher Wednesday following a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from Wells Fargo and other big U.S. banks also helped launch indexes to their best day in two months.