Financial stocks jump as Wall Street rallies after Democrats win Congress
BUZZ-Financial stocks jump as Wall Street rallies after Democrats win Congress ** Financal stocks climb broadly on Wednesday as Wall Street rallies after Democrats' sweeping midterm election victory eased political uncertainty and boosted risk appetite
** Wall Street analysts pointed to midterms acting as a clearing event, given uncertainty related to the elections is now in the rearview mirror
** S&P 500 Financials .SPSY jumps 3.1%, benchmark S&P 500 .SPX up 1.86%
** "This looks like a perfectly normal election by historical standards. Markets appear to have welcomed that normality, with an emerging relief rally as things stand" — Deutsche Bank Research
** JPMorgan Chase JPM.N, Morgan Stanley MS.N, Goldman Sachs GS.N and Bank of America BAC.N climb between 3% and 3.7%
** Wells Fargo up 2%, while Citigroup C.N climbs 1.6%
** Apollo Global Management APO.N and Brookfield Asset Management BAM.N jump ~7%
** Blackstone BX.N, Ares Management ARES.N and KKR KKR.N rise between 5% and 6.5%
(Reporting by Arasu Kannagi Basil in Bengaluru)