After Donald Trump's decisive win in the 2024 U.S. presidential election, Wall Street reacted strongly, particularly in the financial sector. The Financial Select Sector SPDR Fund (NYSE:XLF) rose 4.84%, while the Vanguard Financials Index Fund ETF (NYSE:VFH) gained 5.33% in early Wednesday trading.

Meanwhile, the S&P 500-tracking SPDR S&P 500 ETF Trust (NYSE:SPY), the iShares Core S&P 500 ETF (NYSE:IVV), and the Vanguard S&P 500 ETF (NYSE:VOO) were up about 2%.

As of 10 a.m. ET on Wednesday, seven of the top 10 performing S&P 500 stocks were in the financial sector, with Discover Financial Services (NYSE:DFS), Capital One Financial Corp (NYSE:COF), and Synchrony Financial (NYSE:SYF) leading the charge.

• Discover Financial Services: Soaring 23.5%, Discover led the pack with a stellar performance, reflecting confidence in its growth under a friendlier regulatory environment.
• Capital One Financial: Not far behind, Capital One saw a 16.85% jump, as investors anticipate an environment ripe for growth and profitability.
• Synchrony Financial: Synchrony surged 15.82%, signaling strong investor confidence in the credit services sector, thanks to expected regulatory relief.

• Wells Fargo & Co (NYSE:WFC): The bank gained 13.1%, reflecting optimism about its prospects under a less regulated environment.
• Goldman Sachs Group Inc (NYSE:GS): With a 10.29% increase, Goldman benefited from the market rally and hopes of tax cuts and looser regulations.
• Morgan Stanley (NYSE:MS): Rising 9.92%, Morgan Stanley's strong performance mirrored the broader rally in financials.